Boom times for US shale oil producers

Boom times for US shale oil producers:

"“We are in the BOOM of FRAC SAND HAULING” proclaims a job advertisement on the website Indeed.com. Dozens of companies are looking for truck drivers in west Texas to haul the sand used for hydraulic fracturing, one of the processes that has unleashed the US shale oil revolution of the past decade. The sand is mixed with water and chemicals and pumped into wells at high pressure, to open cracks in the rock through which oil can flow. Drivers in the oilfield lead a rugged existence — they might work a rotation of three weeks on, one week off, and rely on truck-stop bathrooms for washing when they are on the road — but it has its rewards. Employers are offering $100,000 per year, sometimes more, and new vacancies are opening up all the time. There have been 12 new job adverts for sand truck drivers in west Texas posted just in the past week. To rev up excitement, one has a simple message: “THE OILFIELD IS BOOMING!!!!” The drivers wanted ads are a sign of how rapidly the US oil industry is changing. Over 2010-14, US crude production put on one of the strongest bursts of growth in the history of the oil industry, but the industry became a victim of its own success as oversupply in world markets sent prices tumbling, pushing it into a downturn. Activity slumped and dozens of companies were forced into bankruptcy. "



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