U.S. shale executives concerned about labor shortages amidst rising costs in 2023

U.S. shale executives remain concerned about the outlook for rising costs going into 2023 as they continue to struggle with hiring and retaining workers, according to the Federal Reserve Bank of Dallas.“The labor market continues to be incredibly tight in the Permian Basin,” one unidentified respondent was quoted as saying in the bank’s latest quarterly energy survey. “Our company is relying more heavily on rotational employees to service equipment. Permian Basin infrastructure seems to be at max capacity. We are seeing an increase in safety incidents due to poor road conditions and traffic.”