Local oil company bouncing back

By Jessie Weisner
November 2, 2018 - 3:24pm Updated: November 2, 2018 - 7:27pm

 

MEDICINE HAT, AB -- The 2014 oil and gas downturn hit Alberta hard, especially in places like Medicine Hat, where many people are employed in the industry.

However, one local oil business says it’s starting to bounce back.

The MOI resource group oversees Komat drilling and Riker oilfield hauling in the city, with Hatters making up about 30% of their workforce.

“Because there’s so many people here that have experience with fracking and such extensive experience all over Alberta, it’s pretty vibrant,” says Kerwin Mondor, prsident of MOI resource group. “There’s a lot of people here that know a lot about the rest of the province.

The downturn hit the company hard, but it’s since bounced back, with activity thriving in 2018.

However, to survive for the past few years... the company has had to reduce rates drastically, affecting employee salaries in the process.

But as more oil companies start to hire.. the competition for higher-qualified employees is starting to grow.

“Basically in the field, the demand is so high that their salaries have started to come back,” says Mondor. “Maybe not to 2014 levels but pretty close.”

The companies workforce is nearly back to normal as well, despite expectations that many left the industry.

“You know they’re coming back,” says Mondor. “You see a lot of the guys that were here before 2014 coming back into the industry and saying okay well I'm gonna give this another try.”

Medicine Hat currently has the lowest unemployment rates among Alberta cities, sitting at 4-point-6 percent.

 

 

Medicine Hat's unemployment rate drops to 4.6 per cent