It would be almost impossible for a typical U.S. oil and gas company to have the same scope and size as state-owned-and-operated energy giants abroad, but U.S. enterprises in the industry are rising up the list of world’s largest energy companies, according to a recently released ranking. The technological revolution, which has made fracking possible in places like the Eagle Ford Shale fields in east Texas, has led to skyrocketing growth for many U.S. energy giants.
The companies with the biggest gains in the latest world rankings were usually independent, American enterprises, with Houston-based Anadarko Petroleum and the Apache Corp. having some of the largest advances on the list. The rankings classified companies according to prior year’s reserves, refined product sales, production and refinery distillation capacity.
Anadarko, for instance, leapfrogged two companies to climb to #44 on the list, while Apache rose one spot to #40. Chesapeake Energy, based in Oklahoma City, cruised into the top 50 for the first time, landing at #47 in the midst of its massive shift from natural gas to oil and liquids production.
A bit higher on the list were Devon Energy, also based in Oklahoma City and jumping to #41, and ConocoPhillips, which fell to #31 due to a spinoff of its refining industry, called Phillips 66.
Other notable companies in the top 10 were Chevron (#9), Exxon (#3) and Saudi Aramco, which kept its perennial #1 ranking, followed by the National Iranian Oil Company, which remained runner-up.
Given the sheer size of these energy giants, it is always notable when a company is able to rise more than one spot in the rankings. Given that several of the risers were independent U.S. companies, it’s no surprise that the payrolls of those businesses continue to grow at an extremely healthy rate as well as oil and gas jobs proliferate.
Hundreds of thousands of new jobs are created every year as companies like Apache and Anadarko look for new drill sites and increase their production capacities. As a result, oil field jobs are there for the taking if a person has a fairly clean legal history and a desire to work. Many of the oil and gas jobs available are growing at rates between 15% and 20% over the next decade, according to another recent survey, meaning that the recent boom is far from over.
Because of all of these oil and gas jobs in Texas and other states, many of the giants are leaning heavily on staffing companies to meet their personnel needs. Truth be told, several of these colossal companies simply do not have the time to hire adequately as business explodes. Much of the boost in production and sales have been due to recent technologies that have both identified more oil and gas in Texas, for instance, than previously believed there.
Other technologies are advancing as these resources are extracted, from fracking in the Eagle Ford Shale region to more traditional drilling in the famed Permian Basin. The continued rise of several Texas-based companies means that oil field jobs in Texas will become even more plentiful.