News

November 18, 2015

The worst oil market in decades would be hard to spot in West Texas, where two-lane county roads are still jammed with trucks and energy companies are on the prowl for deals.

The Permian Basin, the biggest of the shale-oil regions that ignited the U.S. energy boom, is also the only one where production is increasing even as drillers idle more than half the rigs in the country during the longest price slump since the 1980s.

November 3, 2015

November 3, 2015 (Midland, Texas) – The Midland Development Corporation and the Midland City Council have approved an economic development agreement with Tenaris to establish a service center for the storage, inspection and preparation for the running of steel tubular goods for the energy sector. Tenaris has committed to new annual payroll of $3.3 million and $36 million in new capital investment by December 31, 2020. 

October 13, 2015

Midland Development Corporation received a Gold Excellence in Economic Development Award for its 2015 project in the category of Special Purpose Print Brochure for communities with populations of 25,000-200,000 from the International Economic Development Council (IEDC).

The honor was presented at an awards ceremony on Monday, October 5, during the 2015 IEDC Annual Conference, which was held October 4-7, in Anchorage, Alaska.

October 6, 2015

Midland’s economy grew by 24.1% last year, more than twice the rate of San Angelo, Texas, the metro area with the next largest economic growth. The exceptional gross domestic product growth rate in Midland and other parts of Texas is largely due to fracking activity over the past five years, which has pumped billions of dollars into the state’s economy. Just 2% of the U.S. employed population worked in the mining sector, which also includes agriculture, forestry, fishing and hunting.

October 4, 2015

BY COREY PAUL cpaul@oaoa.com

XCOR set to finish move this year, bring business to local companies

The bread-and-butter for Odessa’s M & M Sales and Equipment lies in selling equipment for the city’s dozens of machine shops like lathes and mills.

October 4, 2015

The bread-and-butter for Odessa’s M & M Sales and Equipment lies in selling equipment for the city’s dozens of machine shops like lathes and mills.

As sub-$50 oil prices curbed machine shops’ work in the oilfield during the past year, M & M saw a primary chunk of its business plummet by about 40 percent, said Jeremy Kirkpatrick, vice president at M & M Sales and Equipment and the son of the owner, Jewell Kirkpatrick.

October 1, 2015

FOR IMMEDIATE RELEASE—
CONTACT: Danielle Urban - Pierpont Communications, 512-448-4950

Oct 01 2015 — Austin

September 18, 2015

Desespite a recent swoon in crude prices, Midland’s labor market continued to hold steady, according to August data.

The Texas Workforce Commission reported Friday that its Midland metropolitan statistical area had an unemployment rate of 3.2 percent, down from 3.4 percent in July and up from 2.9 percent last August.

September 1, 2015

Gail Kellner

When children think of becoming athletes they think of glory, sponsorships, and fame. When they think of STEM – science, technology, engineering, and mathematics — they envision difficult equations, confusing lectures, and endless study sessions, according to Dr. Wanda Austin, president and CEO.

Austin turned this quandary into a call for action, citing a need to change the conversation on STEM and develop a more insightful dialogue for STEM education.

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