Oil & Gas Growth Expected in 2014 - Dallas Fed

Federal Reserve Districts
Federal Reserve Districts

The Federal Reserve Bank of Dallas reported that oil & gas companies in the 11th district, which includes Texas, expect further growth in 2014.

Texas respondents indicated particularly strong activity levels in energy, which means the Eagle Ford Job market will remain robust.

The Fed also noted demand for oilfield services was steady even though the rig count had fallen in response to more wells being drilled per rig.

Read more: Energy Highlights from the Dallas Fed's Beige Book

The Eleventh District economy expanded at a moderate pace over the past six weeks. Manufacturing activity increased overall, with demand weakening in only a few industries.

Other economic highlights from the region included:

  • Refining and petrochemical contacts reported extreme difficulty finding engineers and construction workers. They also noted rising wages
  • Manufacturers of construction related products reported slightly higher demand
  • Chemical production in the Gulf Coast region was up
  • Refinery utilization rates were down with the fall maintenance season
  • Winter fuel standards are pulling prices down at refineries, but margins remain healthy
  • Business relocations to Texas fueled demand for non-financial services
  • Railroad contacts said U.S. cargo volumes grew strongly during the reporting period and noted chemicals shipments were robust
  • "A contact noted Houston may be close to having too much office development in the works."
  • Drought conditions continue to ease

The highlights came from the Dallas Beige Book, which summarizes recent economic conditions in the Eleventh District.

Read the full beige book at dallasfed.org

Employment Growth Continues In The South Texas Eagle Ford - Dallas Fed

Federal Reserve Districts
Federal Reserve Districts

The Federal Reserve Bank of Dallas released its most recent beige book and Eagle Ford job growth was noted as part of the steady labor market.

The report states "Financial firms added employees to comply with regulatory stress testing and wealth management, and noted employment growth in Austin and the Eagle Ford Shale area. Several contacts reported difficulty finding qualified people to fill vacancies.... A construction-related manufacturer noted truck drivers were in short supply."

Notes on the energy sector included:

Energy activity improved since the last report. The Texas rig count increased, and contacts noted strong global demand. Respondents expect further improvement in the second half of the year, especially due to anticipated increases in rig activity and production from the Gulf of Mexico.

Other highlights include:

  • Manufacturing activity increased overall, and many contacts were more optimistic in their outlooks.
  • Drought conditions worsened across the Eleventh District.
  • Refiners said operating rates and margins were up over the reporting period.
  • Automobile sales were steady over the reporting period, and demand remains above year-ago levels.
  • Transportation service firms said overall cargo and container volumes increased over the reporting period. Railroad contacts reported notable increases in motor vehicles, petroleum, lumber......
  • ..commercial real estate sector said leasing activity for office and industrial warehouse space continued at a steady pace.

The Dallas Beige Book summarizes recent economic conditions in the Eleventh District. Read the full report at dallasfed.com

Eagle Ford Shale Jobs Available

Available jobs in the Eagle Ford Shale are now easier than ever to locate through the Eagle Ford Jobs section. For employers, introductory pricing is available to list your job openings specific to the Eagle Ford Play. This weeks job highlight is an open position from Avanti Environmental. The company has a job opening for a "Regional Manager for Environmental Oil & Gas Inspection Services (San Antonio Area)". Visit the jobs page to find out more.

The job market in the play is booming across South Texas. Not only are employers from large oil and gas cities like Houston, Dallas, and Oklahoma City looking for help, but the smaller towns such as Victoria, Carizzo Springs, Catoula, and others across the play are also ripe with job opportunities. If you're looking for a job in the Eagle Ford, be sure to check the Eagle Ford job listings for your opportunity.

Check back weekly for updated job listings and be sure to utilize the filters and search function to find jobs in your field, with a certain company, or in the nearest town.

Here's a recent quote about the job market from a mysanantonio.com article:

While the job market tightened up slightly last month, experts are still calling San Antonio one of the best places in the country to find a job. It looks like the jobs will continue to come in three key areas. The medical, energy and manufacturing industries.

There are still new jobs coming to San Antonio, but there are still plenty of people looking for work at the Workforce Solutions Alamo office on the west side. Among those scouring the internet for work was David and Jeanette Medina. Both are looking for jobs. He's in the manufacturing business and she's a radiologist. If he gets a job first, they'll likely move to Fort Worth. But if she gets a job, it might mean staying here.