Better watch out, coding salaries can be highly cyclical too. When a market gets hot like that and high salary jobs seem so easy to get, it might be too good to be true (sounds kind of similar to another industry come to think of it). Take a look at coding salaries and employment during the 2001 bubble. Now google "new tech bubble".
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Not all coding bootcamps are equal but some have very high placement rates with high salaries. Work experience, job history, education, etc. are all important. If you were talented enough to land a job with COP, you should be talented enough to land a good coding position after completion of a good quality boot camp.
Why would someone with less than five years experience want to stay in E&P? The rest of us are stuck in this cyclical sunset industry ... other perspectives?
First and often last question at an interview focuses on experience and not training or certifications. As the old saying goes, you cannot get the job without the experience and you cannot get the experience without the job. The college new hires are the only employees with an opportunity to acquire both experience and a new skill set, unfortunately.
Don't waste your money. India and China have an infinite supply of skilled and cheap programmers. The young in person in their 20's that made millions on a small start-up are not as common as the media reports.
A friend of mine did just that, coding bootcamp. She worked for 15 years as a coder prior to a layoff. Spent 4 months and $25,000 via bootcamp and then spent another 12 months looking for a job. Bootcamp or not she had no experience in the tool and so the uphill battle to find a new job.
Compensation in oil & gas, has nowhere to go but down. However, in IT related industries, the sky is the limit. Likewise, during boom times, the work atmosphere in oil & gas is awesome. However, during busts (and crashes) it is a miserable place to work. If you like coding and are good at it, this is a good switch. Also, if oil recovers, you can always move back. In this case, you will have new skills that are valued. However, if you succeed in coding, you will probably end up in a really awesome place - The Bay Area, Seattle, or Austin, and probably not want to move back to Houston.