I am not a petroleum Engineer, but I am a 34 year veteran of the Oil and Gas business. I am also a hiring manager who is involved in the recruiting and hiring of engineers. We also hire summer interns every year and the jobs are not hard to get, mostly after the junior year. One of the greatest contributions to our business and the oil business in general was created by a summer intern in the 30s. (Anyone ever used a Red Book?)
The business is booming right now, but in my 34 years, I have seen some big ups and downs. In 4 or 5 years the business could be boom or bust. The best way to get and keep a job is to be flexible about work schedule and willing to take overseas assignments. Most of our top managers all the way to the corporate VP level are Engineers who followed the advice in my last sentence.
I am an acquaintance of Dr. Zappi and I agree with what everyone else says about him. He is very approachable and the most "down to earth" academic that I have ever met.
If you want an exciting career, this can be a very exciting one. But you will probably be out of your comfort zone at times.