Typical geology graduates with a bachelor could expect to make 35-40K but within a oil company they can start at 65-80K.
Most large companies still require a masters in Geology for exploration and heavy drilling work.
And if there is a fair amount of cold weather this year there could be a significant drawdown on natural gas reserves going into next year.Based on the cyclical nature of these stocks, past volatilities and recent quiescences, Wall Street's past infatuations and scant notice these days, future assumptions, and the limited supply of available, quality rigs, I wonder if there is some testable criteria (I have seen historical PE ratios used in the past as a point of reference) that would allow one to determine if the land-based group (and really only 5 companies are the owners of the majority of the land-based rigs in the US) is a good value at this point.India and China demonstrating the largest increase in demand.With new competition in the worldwide oil market prices have soared from around a barrel in the early 80's to near 0.Pure increase in demand and constant supply economic response.
In the meantime - the petroleum industry engineers have aged, very little influx in new engineers since the late 70's.
In addition the type of drilling being done today requires much more technical understanding of rock formation and reservoir interpretation.
Previously, vertical wells required very little geological interpretation.
Land-based drilling objectives have become much deeper and more technically difficult (i.e.
horizontal drilling techniques) so it is not as easy to drill one well and move to the next quickly.
As a thin reed there appears to be a sharp increase lately in the hiring of geologists just out of school–at this point, however, it is probably due more to offshore petroleum-related work.