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Tag Archives: midland

Report: Oil, gas helps fund Texas schools

jacked

A report by North Texans for Natural Gas explains how the oil and natural gas industry contributes more than $4 billion per year to the Texas education system. Texas schools benefit from oil and gas royalties that are paid into the state’s Permanent School Fund and the Permanent University Fund. Local independent school districts also benefit from property taxes paid ...

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Mom and pop businesses feel ripple effect of downturn

Cat Well Service’s workover rigs drilled through a freshly cemented well north of Midland in September, the sort of well maintenance work that many of private oilfield businesses in Odessa and Midland rely on. This work grows increasingly scarce and competitive in the ongoing downturn. As oil companies began idling drilling rigs this year, the amount of workover rigs plummeted, ...

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Downturn brings spike in oilfield crime

The crew from Liberty Fishing and Rental Tools returned to a well near Snyder last week and noticed they’d been hit. The tires had been stolen off a trailer they use to for their work freeing equipment stuck in a wellbore. President and co-owner Monnie Sparkman said the tires would cost about $1,500 to replace — “not that big of ...

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West Texas won’t tolerate illegal dumping anymore

Illegal dumping from both individuals and energy companies have bogged down the Permian Basin for years now. County officials have noticed an upswing in illegally dumped waste including cars, tires, yard waste and oil and gas by-products, but NineWest reports that it won’t be tolerated for much longer. “There are some individuals and some companies as in any business, that ...

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Low prices threaten to curb rising rig count

Permian Basin producers added another three rigs in the week ending Friday, according to the widely-watched Baker Hughes rig count. But observers met the ongoing uptick in drilling activity with concern that it might be short-lived, after another dip in oil prices in July threatened to erase the gains of the previous months. The latest build in Permian rigs left ...

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Predicted drop in oil prices expected to help Lubbock, hurt Midland

gas prices

While falling gas prices could be good for Lubbock residents, it might not be so great for Midland residents, a Texas Tech economics professor said Tuesday. Michael Noel, an associate professor in the department of economics, said Iran is predicting that within the next few months, it will be able to double its exports, increasing the world’s oil supply and ...

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Linn Energy seals sales and equity deals

Having struggled through expenditure cuts and debt this year, Linn Energy plans to sell off its remaining assets in the Permian Basin. FuelFix reports the Houston-based company’s assets in Howard County were purchased for $281 million by an unnamed buyer. The assets purchased include about 6,400 acres of Midland for potential Wolfcamp drilling and production from 133 nearby wells. The ...

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SM Energy donates to ECISD robotics programs

SM Energy donated funds to Bonham Junior High School and Permian High School Wednesday for their robotics programs. The oil and gas exploration and production company presented a $10,000 check to Permian High School to kick off its robotics program next fall and $5,000 to Bonham Junior High School, said Connie Greenlee, a senior geological technician for the exploration group ...

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Texas oil patches brace for more rains, possible floods

HOUSTON – Texas oilfields could see strong rains and thunderstorms later this week, though they were spared the heaviest flooding that struck central and eastern Texas over the Memorial Day weekend, the National Weather Service said on Tuesday. There were reports of flooded roads in parts of the Permian Basin of west Texas and swollen creeks in the Eagle Ford ...

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