Posted May 23, 2014
Crew Change: Millennials Hit the Oil Patch
Bloomberg Businessweek: Mark Hiduke recently raised $100 million to build his three-week-old company. The 27-year-old isn’t a Silicon Valley technology entrepreneur. He’s a Texas oilman.
Now that a breakthrough in shale drilling technology has U.S. oil and gas production booming, an aging workforce is welcoming a new generation of wildcatters, engineers, and aspiring oil barons. After years of failing to attract and retain young talent, the industry is suddenly brimming with upstart millennials such as Hiduke—oil and gas veterans call it “the great crew change.” “I’ve never seen an industry do what the oil and gas industry has done in the last 10 years,” says T. Boone Pickens, the 86-year-old oilman. “Ten years ago I could not have made this statement that you have picked the right career.”
Hiduke’s company, Dallas-based PetroCore, received the $100 million commitment from a local private equity firm in May. Hiduke and three partners plan to buy underdeveloped land and drill shale wells, he says. The shale boom has “created a lot of opportunity for young professionals to jump in and be given enormous responsibility.”
Read more: http://buswk.co/RimKdY
More industry news:
Opinion: Real “Energy Policy” Begins and Ends in the States: http://onforb.es/1gpMLns
Report: Alaska Oil and Natural Gas Industry Needs 7,500 Trained Workers: http://bit.ly/1jdVxjo
Census: Texas Has 3 of 5 of Fastest-Growing Cities: http://bit.ly/1odvrou
Fracking: What Drilling Royalties Have Meant for One Pa. Farmer: http://bit.ly/1oVDu9v
U.S. Voters Say Natural Gas Exports Will Create Jobs: http://bit.ly/1jKtD4i
Drilling Surge Leads to Rental Property Explosion: http://bit.ly/1ibV3dU
ABOUT THE AUTHOR
Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.