Texas oil production sets new record

By the end of the year the State of Texas should pass oil production of both Iran and Iraq. Talk about turn of events no one expected ten years ago.

Drilling in the United States hit a new record this week. 1,562 active rigs are working fields in the U.S. That’s the highest number since Baker Hughes began counting oil rigs by themselves in 1987.

America, is now expected to pass Saudi Arabia next year and become the largest oil producer in the world.

Who Will Have The First Commercial Spaceport in Texas?

MIDLAND, TX (Local Big 2 News) -- It could be an international first here in West Texas. The Midland International Airport looks to become the first commercial international spaceport, but now it could be in jeopardy. That unprecedented takeoff could make an early departure, as SpaceX announces plans to build a launch site elsewhere in the state, much like XCOR here in Midland.

When you think of the Tall City, a few things come to mind. Oil, big rigs and spaceport?

Three Teams To Develop Spaceplane Concepts for DARPA

WASHINGTON — The U.S. Defense Advanced Research Projects Agency has awarded contracts to three companies to develop concepts for an experimental spaceplane capable of flying 10 times in 10 days, according to a July 15 DARPA press release.

The companies selected to develop the XS-1 spaceplane concepts are: Boeing, working with Blue Origin; Masten Space Systems working with XCOR Aerospace; and Northrop Grumman with Virgin Galactic. 

Each team received a contract worth approximately $4 million, sources said.

Top States for Doing Business 2014: Site Selection Consultants Survey Results

Texas ranked #2 in Area Development's fifth annual Top States for Doing Business survey of site consultants in 2014.

Read full article here.

Texas' oil industry approaches records

All signs pointed to a slowdown in the state's oil and gas industry last year, but Texas production instead intensified to near-record levels, spurred by higher-than-expected oil prices driven by overseas turmoil, a new industry report shows.

Statewide crude oil production is now poised to surpass its 1972 all-time high within two years, said Karr Ingham, an economist for the Texas Alliance of Energy Producers.

Texas Jobless Rate for June Steady at 5.1 Percent

Last month's seasonally adjusted figure matched the May jobless rate for Texas, halting three months of declines in statewide unemployment rates. The nationwide jobless rate for June was 6.1 percent.

"Our economy continues to offer diverse opportunities to job seekers," said Commissioner Ronny Congleton, representing labor. "From teachers and health care workers to truck drivers and accountants — Texas is hiring."

Leading Locations for 2014: U.S. Metros Ranked for Economic and Job Growth

Area Development analyzes economic and workforce data for 379 MSAs, producing a snapshot of the cities across America that are poised to capitalize on the new potential for economic growth as the United States leaves the recession behind. A diversified economic base tops the most desirable traits.

Midland City Council moves forward on speed zone changes

MIDLAND - - The City Council recognized a 7-acre donation of land from XTO Energy Inc. The land will allow the City of Midland to extend Mockingbird Lane from Avalon Drive to Holiday Hill Road. The new land will resolve traffic congestion and allow residents to travel safely near Bynum School. They celebrated this day as national XTO Energy Day.

XCOR Aerospace Hangar Sign

 Midland, TX (Big 2 News) - An XCOR Aerospace sign is now mounted on a hangar in Midland International Airport, a sign of things to come.

"We're gonna have a lot of our employees here 10, 12 hours a day. It's a 60,000 square foot space and there's a lot of room in there," said Brad Hartman, commercial division manager and master electrician for Electrical Maintenance & Construction.

Brad Hartman, from electrical maintenance and construction put in a bid with the general contractor, Western LLC, to do the work for XCOR.

XCOR One Step Closer to Becoming Reality

MIDLAND - A preliminary launch schedule for XCOR Aerospace at the Midland International Airport, shows the company will be sending it's spaceplane into orbit twice a week by 2015

The company applied for a spaceport license with the Federal Aviation Administration. The deadline to approve or deny the license is September 15th.

If approved, the Midland International Airport would be the first to offer both commercial and space flights.

It is on schedule to send two planes into orbit per day by 2018.