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Tag Archives: Permian

Tidwell Proves Hard Work Pays Off in Oil and Gas

A little over 15 years ago, Steven Tidwell was a farmer just trying to make ends meet.   He met an entrepreneur who developed an innovative product with a wood-burning stove and insulation.  This little design became the simple baseline for a product that could trap hydrocarbons and revolutionize the oil and gas industry. Tidwell’s father, who had just retired ...

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Anadarko Wolf Camp opens in West Texas

West Texas, Anadarko man camp,

The first worker arrived at the new Anadarko Wolf Camp last week in Loving County, Texas. The 77,180-square-foot facility, built by Target Logistics, is exclusive to Anadarko employees and contractors. The Wolf Camp goes against the perception of crew camps turning into ghost towns. While oil and gas companies have cut billions of dollars from their budgets, Anadarko remained willing ...

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Oil fueling Eddy County’s economic future

Oil fueling Eddy County's economic future

CARLSBAD, N.M. — Stakeholders in New Mexico’s oil and gas industry, particularly in Eddy County, are bracing for where crude oil prices will land in this new year. The New Mexico Oil and Gas Association says the state had a record producing year but a drop in prices in 2015 had many wondering if it was the end of a boom, ...

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Permian producers buck the trend

The oil price crash walloped large independent oil companies during the past year, which on average lost a third of their value, according to RBC Richardson Barr, a Houston-based energy advisory firm. But some companies buck that trend and they share a common trait — they focus on the Permian Basin, where they lay claim to prized sweet spots, and ...

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Concho Resources looking to buy Clayton Williams – Bloomberg

Concho Resources Inc, one of the top energy explorers in the oil-soaked Permian Basin beneath Texas and New Mexico, is seeking to buy Clayton Williams Energy Inc, Bloomberg reported on Thursday. Clayton Williams drew interest from other suitors and may yet decide to remain independent, raise capital or sell assets, Bloomberg reported, citing people with knowledge of the matter.  Shares ...

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Sub-$50: When ‘fracking does not work’

The downturn shows no signs of reversing for the oilfield services industry, and now these businesses that represent some of the top private employers in Odessa face a deepening pain, particularly those that frack wells. Today, about half of the fracking companies who were bidding on new work in the Permian Basin at this time last year continue to do ...

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Sub-$50: When ‘fracking does not work’

The downturn shows no signs of reversing for the oilfield services industry, and now these businesses that represent some of the top private employers in Odessa face a deepening pain, particularly those that frack wells. Today, about half of the fracking companies who were bidding on new work in the Permian Basin at this time last year continue to do ...

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Oil field affects major sectors of Crossroads economy

For better or for worse, many sectors of the Crossroads’ economy are married to the oil fields. From 2013 to 2014, the Victoria metropolitan area grew significantly in overall gross domestic product, despite some dips in a few key industries, according to numbers from the Bureau of Economic Analysis. The GDP, or value of goods and services produced, is used ...

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Volatile times loom for NM’s oil patch

New Mexico’s oil and gas industry is bracing for another round of volatile ups and downs in crude prices that could push the market — and ultimately production in the southeastern part of the state — to its lowest point in more than a decade. The industry has already been battered by steep price declines over the past year that ...

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