24 May 2014, News Wires – Workers at energy companies are among the most productive in American business, with seven players boasting revenue $1 million or more per employee in the most recent quarter, according to a recent study.
Among upstream companies, US shale player EOG topped the list of revenue per employee at $1.5 million per worker, according to an analysis of S&P Capital IQ datacompleted by US Today.
EOG has soared to success in the US on prolific production from the Bakken and Eagle Ford shale plays, a development area the company helped pioneer.
In the fourth quarter of 2013, for example, the company posted a 53% rise in production of crude and condensate, growth the company called “extraordinary.” High levels of uniformity and automation in the shale-drilling process have also helped boost margins.
“These companies generate large amounts of revenue from a relatively small number of employees since they rely so heavily on equipment designed to extract massive amounts of high-priced commodities,” USA Today noted.
Closely following were supermajor ExxonMobil with $1.3 million and independent Marathon Oil with $1 million.
Downstream players boasted the highest numbers, however, with Houston refiners Valero at $3.4 million per worker and Phillips 66 at $2.7 million.
Pipeline company ONEOK and refiner Tesoro also made the list with per-worker figures of $1.6 million and $1.4 million respectively.
Health care company AmerisourceBergen was the only non-energy company to surpass the $1 million per worker mark, coming in third overall with $2.3 million.
Other non-energy companies with high figures per worker included chemical company Lyondell Basell at $837,218 and prescription company ExpressScripts at $790,158.
Technology companies Netflix and Apple also made the list with $583,949 and $568,443 respectively per worker in the first quarter.