This post is taken from an interview with the CEO of an oil & gas company operating in the Permian Basin. Here he tells about one type of those many jobs in America created by innovative hydraulic fracturing technology:
photo: wellsaidcabot.com
How does CrownQuest [your business] work?Our geologists determine where is a good place to drill. We lease the right to drill to access the minerals. Then we raise money to drill a well, and we manage production. We subcontract out all the construction stuff. We will typically have 70 different companies involved in drilling a well.
You have geologists and engineers, but you also have blue-collar lease managers who manage that activity out of their pickup trucks.How much money do you think they make?
$50,000?It’s $80,000—and I’m talking Basin-wide.
What do they need to do to get a job like that?Pass a drug test, have a driver’s license, show us they’re sharp. They need to look at data and understand how machinery works.
College diploma?Not necessarily.
High-school diploma?Not necessarily. We teach them to do engineering analysis, so we want them to be smart. School might show you’re smart, but school doesn’t make you smart.
(cont'd tomorrow)
(cont'd tomorrow)
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