Oil and Gas Industry
Employment within the oil and gas industry has been as volatile and unstable as the price of oil and the price of gas, and it takes geologists who thrive on the excitement and potential of this industry to enjoy and appreciate careers within this specialty. Geologists who succeed within the oil and gas industry not only need the research and educational skills for creating and imagining the geologically unknown, they must also have business and communication skills and often management skills that are above average.

Employment within an oil and gas company is very economy-driven. If a geologist isn't finding or developing new oil and gas potential, the company is losing money on their investment in this employee. It can be a stressful environment, but it is also an extremely rewarding environment because these geologists have an opportunity to see their labors bear fruit. Their creative geologic talents and ideas are tested with seismic and drill bits and can result in exciting discoveries. Very little can match the thrill and satisfaction of being on a drilling rig as it drills into the predicted reservoir with the anticipated results! And few other careers in the world provide the universal service and benefits to the every single person, worldwide, as does the business of supplying energy…and it is fun!

Oil prices (and gas prices) took an unprecedented dive in 1986 and the industry suffered enormously: more than 250,000 industry workers were put out of work, including a large number of geologists. In early 1993, economic predictions included a stable oil price of about $21 per barrel. By December 1993, oil prices had again fallen to a low level. Eighteen months later, prices were high again, and in the winter of 2000-2001 record high gas prices fueled new drilling incentives. Employment in the industry will always be subject to these fluctuations, but there is a type of geologist who belongs in the industry regardless of these fluctuations, a geologist with enthusiasm, creativity, vision and especially, one who has been bitten by the thrill of the oil patch, the excitement of discovery, and the satisfaction of these accomplishments.

There will always be a place for a young geologist with these interests and qualities. Many times, continuing your profession in petroleum requires perseverance, determination, dedication, and maybe even "addiction" to this career. But, if you have ever sat down with some of the oil pioneers at an AAPG meeting, men and women in their 80s and 90s, and experienced their continued excitement and enthusiasm for their careers, you will see the joy it has brought to the lives of those who persist.

Hiring statistics in the geological profession (AGI, 1999, Report on the Status of Academic Geoscience Departments) indicate that approximately 13% of the geologists hired in 1999 were in the oil and gas business-compared to 27% hired in 1991. That contrasts with 29% in the environmental business, 13% in academia, 14% in government, 4% in mining, and 3% in research and DOE labs. The oil and gas industry offers the highest industry salaries at each degree level. The level in greatest demand for the petroleum industry is a master's degree. For instance, the average salary for all entry-level geologists with a master's degree is about $31,500, and the average in the petroleum industry is about $59,700. However, to enter the oil and gas field for the income alone is clearly discouraged...this is not a career for the faint-hearted!

Fewer and fewer geologists remain with the same company for their entire careers. Independents (those who earn most of the income directly from production) and consulting geologists make up the bulk of membership in the American Association of Petroleum Geologists (AAPG). Those interested in pursuing this career do well to prepare themselves for a future as an independent or consultant. Talking to successful independents and consultants and getting their advice is an excellent way to start this preparation. Skills that are critical for success as a consultant also serve an employee well within a company. These include: ability to focus, ability to complete projects, self-motivation, ability to put creativity into action, clear communications, good public speaking, financial planning, accounting and NETWORKING. (This assumes you have developed expertise in most facets of petroleum geology, which generally is learned "on-the-job" after 4 to 12 years of higher education.)

There is tremendous appeal to some people to be "on their own," to be their own boss, to have this independence, however risky and insecure. For others, the thought of it is terrifying and they avoid it. Those who don't think they want to be "on their own" should prepare from the first day on the job with a company for this possibility. Save, invest, gain the skills, gain the confidence. If these skills are never used outside the "company" environment, they will still help in the advancement of your career within a company.