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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:

Texas Ranks Near Top of Aerospace Manufacturing Report

When it comes to aerospace manufacturing, Texas is among the top 10 states in the U.S., according to a detailed international industry analysis from 

I-20 Permian Basin Corridor Study

View a presentation of the Permian Basin Metropolitn Planning Organization's 2016 I-20 Permian Basin Corridor Study. The purpose of the study is to assess current safety and capacity needs and plan for the modernization of the corrior throughout the Permian Basin. This multimodal corridor plan is intended to improve mobility and safety, enhance the region's economic opportunities and maintain infrastructure assets. 

View the Corridor Study Here

Texas Town's Fortunes Rise And Fall With Pump Jacks And Oil Prices

MDC Comment: This "boom and bust" cycle is why the MDC exists. We work to diversify our economy every day, to help support our primary O&G industry. Thank you to all of the hardworkers and entrepreneurs in our town.

Out on the wide open plains of West Texas, you can see the horizon for 360 degrees, interrupted only by the nodding up and down of pump jacks pulling oil up out of the earth.

There lies the aptly named town of Midland.

A Portrait Of America's Middle Class, By The Numbers

Not surprising, the distribution of the middle class varies by location and cost of living.

Midland, Texas, is currently home to one of the country's smallest middle-income groups — only 43 percent of the population. That's because so many people have actually gotten richer. In fact, thanks to the oil industry, Midland has the highest percentage of upper-income families in the U.S.: 37 percent.