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Occidental opens new facility in Midland
Image courtesy visitmidlandtexas.com

Occidental opens new facility in Midland

Occidental Petroleum opened doors to its new offices last month in Midland, Texas.

The Oxy Permian Plaza is comprised of two office buildings connected by a conference center and covers 212,000 square feet.

Oxy Permian Plaza is the second facility opened this year in Midland by Occidental Petroleum. The company constructed a training facility earlier this year.

Occidental is the largest operator and largest producer of oil in the Permian Basin. The company has more than 5 million gross acres with over 12,000 operating gross oil and gas wells, according to Occidental Oil and Gas Americas President Vicki Hollub.

Sheffield: Repeal of export ban benefits Permian Basin most

In an interview with the Midland Reporter Telegram, Pioneer Natural Resources Chairman and CEO Scott Sheffield said the Permian Basin will benefit most from the repeal of the oil export ban.

“There will be long-term benefit and the most benefit will be for the Permian Basin, where there is the most room for growth and where there is the most activity,” Sheffield told the Reporter Telegram.

Sheffield said he expects to see six more months of low prices before recovering in 2017 to $55 to 60 a barrel.

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