SAN FRANCISCO, Jan 5 - Most U.S. oil and gas companies expect steady or rising employment levels this year as demand for oil and gas grows after slumping in 2009, according to a survey of the companies' chief financial officers.
U.S. accounting firm BDO Seidman LLP said on Tuesday its survey found 65 percent of the CFOs planned to keep employment steady in 2010, while 27 percent planned to hire more.
"Given continued tough market conditions, tightened credit access and lower demand, it's somewhat surprising that only 8 percent of CFOs expect their companies to decrease employment levels in 2010," said Charles Dewhurst, BDO's national energy practice leader.
"Apparently, the industry experienced such steep cuts to price, demand and personnel in 2009, there is really nowhere to go but up."
A majority of the 100 executives surveyed expects demand for oil and natural gas, both globally and domestically, to grow at least "some" this year.
And while 44 percent see the total number of drilling rigs in operation staying relatively stable this year, 30 percent see the number increasing "some," and 10 percent expect it to rise "substantially."
But few are holding their breath in anticipation of an immediate recovery. Results from the survey released last month showed most CFOs do not expect an improvement in demand until the second half of 2010, at the earliest.
The survey was conducted in November.
U.S. accounting firm BDO Seidman LLP said on Tuesday its survey found 65 percent of the CFOs planned to keep employment steady in 2010, while 27 percent planned to hire more.
"Given continued tough market conditions, tightened credit access and lower demand, it's somewhat surprising that only 8 percent of CFOs expect their companies to decrease employment levels in 2010," said Charles Dewhurst, BDO's national energy practice leader.
"Apparently, the industry experienced such steep cuts to price, demand and personnel in 2009, there is really nowhere to go but up."
A majority of the 100 executives surveyed expects demand for oil and natural gas, both globally and domestically, to grow at least "some" this year.
And while 44 percent see the total number of drilling rigs in operation staying relatively stable this year, 30 percent see the number increasing "some," and 10 percent expect it to rise "substantially."
But few are holding their breath in anticipation of an immediate recovery. Results from the survey released last month showed most CFOs do not expect an improvement in demand until the second half of 2010, at the earliest.
The survey was conducted in November.
