Page 117 - midland

into the underground rock formation. The water pressure creates tiny openings in the rock which is held open by the sand, thus allowing the oil or gas to fow freely and escape through the well to the surface. This technology, combined with horizontal drilling, was perfected in the Barnett Shale, and has allowed oil and gas operators to produce massive amounts of oil and natural gas from geological formations in the United States which were once considered uneconomical to drill.

At the beginning of June, 2011 there were 349 rigs operating in the Permian Basin, with twenty nine of those in Midland County alone. This number is expected to rise in the next twelve to eighteen months as more companies move west. With this new technology, there will undoubtedly be more activity in the area as these plays continue to expand and develop, and with that comes new jobs and opportunities for the citizens of West Texas.

At present you’d be hard-pressed to fnd an empty motel room across the Permian Basin. Courthouses are packed with landmen, sometimes elbow to elbow, researching mineral title for the county. Oil company workers, rig hands and others fll the local restaurants and stores. Hotels are booked weeks, sometimes months in advance. The commercial real estate market is also on the rise. Many oil and gas companies with operations in the Permian have leased offce space in Midland and surrounding areas, and some established companies in the area are starting to expand and acquire new space. All of this comes as a result of the recent oil boom that has hit West Texas once again.

Companies in the oil and gas industry are also taking advantage of the rising business opportunities. From frac tank rental companies to water haulers, land brokers to well service companies, signs that the new oil and gas activity is here to stay are everywhere and

showing a big boost in these small town economies. In a time when the rest of the nation is suffering from lack of jobs and unemployment, many of these companies are actively hiring locals. The Texas Workforce Commission reported in March that Midland’s unemployment rate fell to 4.6 percent, the lowest in Texas, and 3,600 jobs have been added in the last year. There is no doubt that opportunities abound in the Permian.

Thank you to the oil and gas businesses that choose to do business in the area for your contribution not only to the workforce, but to the community as a whole!  MLM

The Permian Basin has a rich history dating back to the 1920’s when Midland was merely a stop on the Texas and Pacifc railway line, halfway between Fort Worth and El Paso. A quiet little ranching town, Midland was known as a place to buy supplies and ship cattle. But with the discovery of oil in the Permian Basin, Midland was quickly transformed into a central hub for oil and gas activity in West Texas.