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Houston midstream co. invests in Permian pipeline expansion

Houston-based Plains All American Pipeline LP (NYSE: PAA) is investing in its midstream footprint in the Permian Basin with an expansion of its 310-mile Cactus Pipeline.

The expansion will bring the McCamey-to-Gardendale, Texas, pipeline's capacity to 390,000 barrels per day, according to a Plains press release. Plains expects parts of the expansion to enter service in the third quarter of 2017. The initial design capacity for the pipeline was 200,000 barrels per day.

Noble Energy to acquire Midland-based company for $2.7B to grow Delaware Basin footprint

Houston-based Noble Energy Inc. (NYSE: NBL) announced Jan. 16 it will acquire Midland, Texas-based Clayton Williams Energy Inc. (NYSE: CWEI) in a $2.7 billion cash-and-stock deal.

The deal is expected to close in the second quarter and represents a 21 percent premium to Clayton’s average closing share price over the past 30 days and a 34 percent premium to the price on Jan. 13, the last day prior to the deal. Clayton shareholders are expected to own approximately 11 percent of Noble’s outstanding shares.

2017’s Most & Least Recession-Recovered Cities

For many Americans today, the Great Recession is nothing more than the distant shadow of a troubled economic past. After all, the longest downturn since the Great Depression officially ended in June 2009, and cities coast to coast have completely bounced back. Some have even surpassed their pre-recession economic levels, thanks to lucrative industries that helped them rebuild or stay afloat through the crisis.

Midland's New Spaceport Aims to Make Space Travel Accessible to All

Drive down a windy, muddy road, hidden on the backside of Midland airport’s southernmost tarmac, and you’ll find a shiny new hangar and office building: XCOR Aerospace’s Texas headquarters.

Most people associate the Permian Basin with oil and gas. But some Midlanders are hoping to make the region synonymous with space travel. Two years ago, Midland’s airport became the first commercial airport also licensed for flights into space. Today, it’s called Midland International Air and Spaceport.

Tenaris inaugurates Midland service center, enhances presence in Permian basin

MIDLAND, Texas -- Tenaris has inaugurated a new service center in Midland, Texas—an investment critical to the deployment of Rig Direct, the company’s new business model of working directly with oil and gas customers to synchronize pipe manufacturing with drilling operations.

The service center is a $36-million, multi-year investment project, which handles the storage, inspection, rig preparation and delivery of oil country tubular goods (OCTG), accessories, sucker rods and in the future, coiled tubing.

Oil and gas mergers and acquisitions are finally making a comeback

Oil and gas players are finally inking new mergers and acquisitions, after nearly two years of moribund deal activity.

Deal-making hit a soft spot following the 2014 oil bust as banks tightened lending to distressed drillers and buyers and sellers remained at odds over the value of energy assets. Now, climbing crude prices, easing capital markets, and a gold rush in Texas's prolific Permian basin are thawing a prolonged M&A freeze.

What are the Best States for Business

Texas ranked No. 4 overall in the nation, according to Forbes' annual Best States for Business list.

Read the Full Article Here

LeoLabs to build space-tracking radar at Texas spaceport

LeoLabs Inc., a Silicon Valley startup preparing to build a worldwide network of phased-array radars to detect and track objects in low Earth orbit, plans to install a radar at Texas’ Midland International Air and Space Port, according to a Sept. 13 announcement.

UTPB gets $200,000 contribution

The University of Texas of the Permian Basin received a second installment of $200,000 for its aeronautical engineering program from the Midland Development Corp. at the Mesa Building Wednesday.

UTPB received a $600,000 three-year commitment from the Midland Development Corp. and the Midland City Council in January for research and development of a concentration in aeronautical engineering within the mechanical engineering program.

Orbital Access Interested in Midland Spaceport

By Trevor Hawes thawes@mrt.com

There’s a formal relationship brewing between Midland and Scotland, and it could mean a new tenant at the city’s upstart spaceport.

Glasgow Prestwick Airport and Spaceport Business Development Director Mike Stewart visited Midland last week to meet with its new partner XCOR Aerospace, which is headquartered in Midland, and to bring the city a message: