Good morning, here's what the Oilman has for you today:

• Big Tech Comes after Oil Workers

• U.S. Oil Output Close to Peaking. Or Is It?

• Upcoming Oil and Gas Events

• Tweet of the Day

Big Tech Comes after Oil Workers

Tech companies are hunting for talent in the oil patch as demand for data centers grows.

This hunt may threaten possible shortages at a time when LNG export capacity needs to grow. Fast.

From the oil rig to the data center

Bloomberg says that tech recruiters are pitching better pay, working conditions, and career opportunities to oil workers in Texas.

It also says some in the oil industry are beginning to worry about it.

Because the industry has never had a threat of this kind.

And because it needs its workers right now.

“Big Tech has a lot of buying power,” a senior Bechtel exec told Bloomberg.

“The mission is to go hard, go fast, and that’s been a disruptor for the labor market. That’s not something we’ve had to compete with in the past.”

The bigger problem is that Big Tech is going hard and fast when Big Oil is expanding, too.

In gas.

The great LNG rush

The U.S. is on track to become the world’s largest LNG exporter one of these days.

But to keep the crown, it would need to boost capacity. Hard and fast.

And for that, it would need thousands of workers.

If these workers decide to opt for a tech career, the LNG boom will be in jeopardy.

And some might decide just that.

The oil industry has a reputation for hiring and firing depending on oil prices.

Those jobs in LNG construction, for example, won’t exactly be long-term employment.

Who knew Big Tech could turn into Big Oil’s enemy?

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U.S. Oil Output Close to Peaking. Or Is It?

Every once in a while, someone declares the death of U.S. shale or the peak of total production.

This time, it’s a Reuters market analyst who says historical evidence points to a pending peak.

It’s really business as usual

John Kemp says the peak in U.S. oil production is near based on evidence from previous industry cycles.

It’s the usual pattern of high prices equaling high production and low prices triggering a decline in production.

Per Kemp, we are now near the “lower production” part of the equation as prices have fallen substantially over the past year.

On the other hand, they have risen since the start of the year, so there’s that to consider, too.

The other thing to consider is easing inflation.

Everyone blamed inflation for modest production growth plans earlier this year.

Now that costs are beginning to mellow, oil producers could change their plans.

And knowing their track record, they probably will.

Shale can still surprise

The shale patch is what everyone’s watching, of course.

Shale output is the fastest to ramp up and the fastest to wind down when prices fall.

But here’s the thing: Prices are on the climb again.

And some see them climbing a lot higher by the end of the year.

We could well have the output peak that never was, as producers get an incentive to boost output.

I guess reports of U.S. oil’s peak were greatly exaggerated.

Upcoming Oil & Gas Events

• September 7: Petroleum Alliance of Oklahoma Dove Hunt, Devol, OK

• September 11-14: American School of Gas Measurement Technology, Marriott Houston Westchase, Houston, TX

• September 14: KOGA Fall Meeting, CountryMark Pavillion, MT Vernon, IN

• September 14: PIOGA’s Birds & BBQ Clay shoot, West Penn Sportsmen’s Club, Murrysville, PA

Around the Global Patch

🇮🇶 Oil flow resumption faces further delays in Iraq-Turkey.
🇸🇦 Saudi Arabia extends oil production cut through Year's end.
🌍 African exploration hints at revival of legacy oil play.

Tweet of the Day

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