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Tag Archives: Permian Basin

Demand outstrips NM job creation

The counter-cyclical direction of New Mexico’s rising unemployment rate summarizes the state’s economy in 2015, said Jeffrey Mitchell, director of the Bureau of Business and Economic Research at the University of New Mexico. “The national economy is creating jobs at a slightly higher rate than people are joining the labor force,” he said. “The national unemployment rate clicks down a ...

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Oil ministry job fair draws hundreds

More than 500 job seekers turned to the Rock the Oilfield Job and Resource Event in Midland on Friday, an event organized by local Christian groups in hopes of offering relief to workers displaced by the oil bust. Attendees offered accounts of the human toll wrought by the economic downturn driven by the region’s premier industry. One couple, Kurt and ...

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Despite oil bust, Texas prepares more students for oil jobs

HOUSTON — The oil industry is mired in its latest bust, with thousands of jobs evaporating like flares flaming out over natural gas wells. But in Texas, education officials are preparing more young people for the oil patch, showing the state’s unshakeable commitment to the energy sector despite the employment uncertainties. The Houston school district is planning to expand its ...

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Ministry connects workers, jobs

Times were good when First Baptist’s oilfield ministry began last October. It was the Permian Basin International Oil Show, and a group of Christians joined to distribute some 7,000 Bibles tailored specifically to oil men from nearby the event. An oil price slide during the following months would hammer the industry, and First Baptist “boom pastor” Jesse Gore — to ...

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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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State OKs oil well drill near Rio Rancho

An Oklahoma-based energy company has received a state permit to drill an exploratory oil well in Sandoval County, about four miles outside of Rio Rancho city limits. The company, SandRidge Energy Inc., is working to get approval from Sandoval County for drilling at the site, said David A. Kimmel, SandRidge communications director. The location is north of Northern and Encino, ...

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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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Leading oil producer opens Carlsbad office

CARLSBAD — Concho Resources Inc., opened a new field office in Carlsbad on Wednesday, which they hope is a symbol of the continual growth of Southeast New Mexico’s oil and gas industry. In 2014 Concho Resources Inc. operated one of the largest horizontal drilling programs in the Permian Basin, including New Mexico, their website said. Joe Wright, executive vice president ...

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