Midland-Odessa economies continue setting records
Posted on March 3, 2019
2018 was ‘a very good year’ for the area, Ingham says By Mella McEwen, MRT.com/Midland Reporter-Telegram Midland and Odessa’s economies remained in expansion mode as 2018 came to an end, with consumer spending and housing construction hitting record highs. “The Midland-Odessa economy had a very good year,” said Karr Ingham, the Amarillo economist who prepares the […]
Read Full DevelopmentPermian Strategic Partnership names CEO
Posted on March 3, 2019
The Permian Strategic Partnership board of directors announced on Tuesday their chief executive officer will be Tracee Bentley effective March 18. Bentley was most recently the executive director of the Colorado Petroleum Council, a division of the American Petroleum Institute, where she focused on all segments of the oil and natural gas industry in Colorado […]
Read Full DevelopmentDistrict Approves Solar Applications
Posted on March 3, 2019
Odessa American oanews@oaoa.com The Ector County Independent School District Board of Trustees approved two applications for appraised value limitations on property south of Interstate 20 and east of Farm to Market Road 1601 for two solar projects. The board also approved hiring Dan Casey of Moak Casey & Associates to guide the district through the application […]
Read Full DevelopmentProposed Winkler County refinery could benefit local drivers’ pocketbooks
Posted on March 3, 2019
California-based Meridian Energy Group is seeking to build a new refinery near the Permian Basin town of Kermit. The company is already building its Davis Refinery in the Bakken Shale of North Dakota. The $1 billion, 60,000-barrel-a-day refinery Meridian Energy Group is planning for Winkler County could benefit local producer as well as local consumers. […]
Read Full DevelopmentPERRYMAN: Texas had a banner year in terms of job creation
Posted on March 3, 2019
By M. Ray Perryman As the numbers for 2018 begin to trickle in, it is becoming increasingly obvious that Texas had a banner year in terms of job creation. Overall, the state economy added 391,800 jobs through the 12 months ending in December 2018. That amounts to well more than 1,000 jobs each day. The […]
Read Full DevelopmentHighway 115 Project Begins
Posted on March 3, 2019
Sand company footing $1M bill By Paul Wedding pwedding@oaoa.com A local sand mining company is funding a project that started Monday improving Highway 115 in Winkler County, the newest of many roadway improvement projects in the Odessa District of the Texas Department of Transportation. The project will involve adding auxiliary lanes, shoulders and a left […]
Read Full DevelopmentPSP: Permian to Become Fourth Largest Oil Producer in the World
Posted on March 3, 2019
Report shows plenty of oil and jobs to be produced by 2025 By Stewart Doreen, MRT.com/Midland Reporter-Telegram Oil production in the Permian Basin will increase to more than 6 million barrels a day by 2025, which would be the fourth most in the world, according to a presentation from the Permian Strategic Partnership. The PSP provided […]
Read Full DevelopmentPSP Report Shows Motive Behind Its Initiative
Posted on March 3, 2019
Partnership representatives provide council with details of five areas in which improvement is needed By Stewart Doreen, MRT.com/Midland Reporter-Telegram PSP said that currently, there are 15,000 positions that remain unfilled across the Permian. They also reported that Permian production will support the creation of about 45,000 jobs across the region through 2030. The Permian Strategic Partnership […]
Read Full DevelopmentPerryman ‘Optimistic about the Area’
Posted on March 3, 2019
Midland, Odessa growth rates should far exceed that of state and nation, economist says By Mella McEwen, MRT.com/Midland Reporter-Telegram M. Ray Perryman said “the cost of producing petroleum has gone down so much” that Permian Basin operators can withstand declines in crude prices, such as that seen in the fourth quarter of 2018. ODESSA – The region’s […]
Read Full DevelopmentPerryman Optimistic About Economic Growth
Posted on February 7, 2019
By Paul Wedding pwedding@oaoa.com Economist Ray Perryman gave a presentation at the Odessa Country Club Tuesday giving a five-year forecast on the Permian Basin economy, and said he was feeling very optimistic about the growth right now being driven by a booming oil and gas industry. “The cost of producing petroleum out of a fracked […]
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