I read an article about vets suffering a 75% unemployment rate with sadness…but there is hope below. Please get this information from Byron King (investor, oil and resource expert) about Hilliburton hiring thousands of vets to as many vets as you can.
Need a job? Halliburton (HAL: NYSE) is hiring. In fact, Halliburton plans to hire more than 11,000 employees this year, according to recent news reports. Most of the new hires will go to North Dakota and Montana to work on the Bakken oil play.
The Bakken is among the hottest of hot spots in the oil patch just now, producing over 400,000 barrels of oil per day. The secret to success is directional drilling within the oil-bearing formations, coupled with hydraulic fracturing (fracking) that breaks up the underground rock formation to release the entrapped oil. One leading operator in the Bakken is Hess Oil Co. (HES: NYSE), by the way.
As for Halliburton, it's hiring people with skills ranging from engineers to trade workers to MBAs. It's even hiring unskilled laborers, with the intention of training the nuggets to work in the oil patch. According to a Halliburton manager, "If you have a willingness to work and an aptitude to learn with a high school education, within a year and a half to two years, you can become a frontline supervisor. That job will pay $125,000-130,000 a year."
All kidding aside, the high pay scales are justified because Halliburton has such a large backlog of business. Since last April, for example, Halliburton has been running its fracking crews around the clock in the Bakken region. Demand for oil field services has simply outpaced the supply of people and equipment.
According to the Oil & Gas Journal, many fracking companies (Halliburton and others) are warning of a six-month wait to get fracking crews on site to complete a well. Whatever the stock market does, the oil service business is booming.
In a development that hits a personal nerve, the energy industry is making an aggressive effort to hire military veterans, from both active duty and the reserve components. It makes eminent sense, in that there's a need in the energy industry for a qualified, safety-minded and dedicated workforce.
The American Petroleum Institute (API) developed a program to reach out to prior-service and retiring military people, and those in the reserves, called Veterans to Energy. The website offers a list of API membersthat actively recruit veterans of the armed forces. http://www.veteranstoenergy.org/
in America’s oil and gas industry.
Anadarko Petroleum Corporation
Colonial Pipeline Company
Marathon Oil Corporation
Marine Spill Response Corporation
Parker Drilling Company
Petrochem Inspection Services
T H Hill Associates, Inc.
In the past, I've discussed how the growing global demand for oil and gas puts the energy industry in a labor predicament. That is, the workforce is getting older, and there's a missing cadre of people from the bust of the 1980s and 1990s who were never hired or were otherwise laid off. So energy companies must act now to fill their vacancies. They need to retain the knowledge and skills of a "graying" workforce while bringing in new blood to get the work done.
There are many aspects of military service that transfer to the oil and gas biz, such as exploration, production, refining, transport and marketing. This applies especially to technical skills, such as mechanical and electrical work, as well as logistics, warehouse and inventory work. Then there are the nontechnical aspects, such as leadership, teamwork and the drive to achieve results -- often as not outdoors, under harsh environmental conditions. The jobs are there.
Thanks for reading. Have a good week. Best wishes...
Byron W. King
Byron W. King