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Permian News

Apartment rents drop, complexes promote specials

Signs of the oil and gas downturn’s affect on the apartment market in Odessa began cropping up throughout town in recent weeks — “Now leasing.” For the first time in years, apartments are advertising move-in specials and cutting rates, according to Rhonda Lesley, executive of the Permian Basin Apartment Association. Offers include no application fees or administrative costs, a free ...

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Home building booms despite oil drop

EDITOR’S NOTE — This is another in a continuing series of stories exploring this downturn and the challenges and opportunities this presents for West Texas. Fourth-grade teacher Michael McMillan hit a breaking point about three months ago in the form of another notice of a rent increase at his Cimarron Place apartment. He still paid less than the citywide average, ...

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DI BLOG: Oklahoma oil will be OK

Oklahoma oil and gas operations seem to be in good shape despite a decline in activity. According to a blog entry for Drillinginfo, declines in leasing activity might not be as steep as declines in other areas like permit and rig counts. Rig counts, the entry reports, dropped 52.2 percent and permits dropped by 40.7. Drillinginfo expected leasing activity to ...

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Bridger lands $837 million deal with Ferrelgas

hands shaking

Two companies recently shook on a deal that Dallas Business Journal reports could solve problems faced by both companies. Ferrellgas Partners acquired Bridger Logistics for $837.5 million and expects to close the transaction by July 1. Bridger co-founder and CEO Julio Rio looks forward to that the expansion the acquisition facilitates on top of the company’s existing 1,400 rail tank ...

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Duncan’s average gas price drops slightly

The average price of a gallon of gas in Duncan dropped two cents since Monday to $2.59 per gallon. Statewide, gas prices have been on the rise in the last week, rising three cents to $2.49 since May 27, according to AAA Oklahoma. Duncan’s average price has followed this trend until recently, increasing 12 cents in the last month, but ...

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Chestnut Exploration develops unconventional success in East Texas

It’s rare these days to hear of major successful oil extractions that don’t depend on hydraulic fracturing. But One Texas company is not only finding a bit of success without the popular production method, it is accomplishing extraction in an unlikely area of East Texas. The exploration and production company Chestnut Explorations, Inc. claims to have found a great return ...

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HASC opens new safety training facility

If the recently reported spike in oil and gas-related workplace fatalities tells us anything, it’s that slip-ups on the oilfield can quickly lead to tragic accidents. Industry representatives have linked the increase in deaths to the fresh crop of inexperienced workers who’ve entered the industry during oil boom. The Houston Area Safety Council hopes to curb future accidents through educational ...

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Shearer madness

Ty Edwards was on a routine trip to one of the hundreds of the Middle Pecos Groundwater District’s monitoring wells when he noticed the dead mesquite and the salty oil smell that he recognized instantly as a produced water spill. Edwards, an assistant manager of the district, makes these rounds once a month to check on the wells, which show ...

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