Home / Tag Archives: Odessa TX

Tag Archives: Odessa TX

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 ...

Read More »

Oil seepage threatens Monahans Draw

Leaking oil from a lease atop the Monahans Draw raises worry of contamination of the waterway, and more than a year into the state-ordered cleanup effort the extent of the damage remains unclear. Oil was discovered seeping through soggy earth on July 16, 2014, at the oil lease in the 3200 block of Second Street, the western fringes of Odessa ...

Read More »

Rents dropping with downturn

Rent for a one-bedroom apartment in Odessa cost about 15 percent cost less in August than during the same month of 2014, reflecting a continuing drop amid the oil and gas downturn after years of tight apartment housing and rising costs. In August, an average one-bedroom in Odessa cost $850 per month, while a similar apartment in Midland cost $920, ...

Read More »

Downturn brings spike in oilfield crime

The crew from Liberty Fishing and Rental Tools returned to a well near Snyder last week and noticed they’d been hit. The tires had been stolen off a trailer they use to for their work freeing equipment stuck in a wellbore. President and co-owner Monnie Sparkman said the tires would cost about $1,500 to replace — “not that big of ...

Read More »

Inspectorate opens Permian Basin facility

magnifying-glass

A new oil and gas service facility opened in the Midland-Odessa area earlier this week. Inspectorate, a multinational inspection, sampling and testing services group, announced Tuesday that it will now provide services to the Permian Basin including sampling and gauging, terminal inventories, key point crude testing and water-draws. Inspectorate’s team is also trained and equipped to package and ship samples ...

Read More »

Sales tax Odessa sees lower sales tax revenue

The City of Odessa received its July sales tax check for $3,246,663.77. This includes the economic development sales tax of 1/4 cent. The City of Odessa will receive $2,597,331.02 and the Odessa Development Corp. will receive $649,332.75, a news release said. The city itself saw a decrease with July’s sales tax revenue total of $2,597,331.02, which reflects a $362,553.17 or ...

Read More »

Perryman sees slump, not bust

The downturn deepening as oil and gas activity slows could last a year and a half or longer, but a leading economist argued Wednesday that the sort of bust that hit the Permian Basin in the past is not in the offing. Ray Perryman, the Odessa economist who runs the Perryman Group, made his name predicting the 1980s bust that ...

Read More »