Christopher Melillio reported on OILPRO that M&A activity had been drastically reduced to $205 billion from #$349 billion in 2012 and despite this, it has had an “interesting effect on positions related both to the deal market as well operating market in job growth fro 2014.” While many experts predicted market highs reached in 2012 will not necessarily be reached in 2014, they indicted that we will see an increase over 2013. According to mid-year data, it appears we are on that path.
Corporations shifted their focus towards asset development in late 2013, which “added a 19% increase of professional & field engineering positions in Drilling, Completions, Civil/Facilities and Development & Exploitation Geoscience roles.” Melillio reports that “There are an extremely large number of positions currently looking to be filled in A&D Reservoir Engineering.”
Houston, Denver and Oklahoma City are among the regions that stand out for Reservoir Engineering, with Pittsburg starting to show an increased need for this skill set. He also states that “Drilling Engineers definitely reflect the Acquisition activity of 2012 and 2013 in Pittsburgh Metro, San Antonio and Denver.”
A noticeable trend is the reduction in the number of searches for Manager and VP level positions. These numbers are however been offset by a higher number of Senior Staff roles. Melillio suggests that “shift is also due to where the market currently sits with regard to Post M&A development activity.”