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Tag Archives: Odessa

Finding a job after the oilfield

Diego Estrada finally lost his job as a wireline operator in March. For months, the 35year-old said he watched his hours dwindle, chipping away at earnings beyond what he ever made as a construction worker in El Paso. In 2014, he said he made $88,000. But as oil companies shed rigs and completed fewer and fewer wells as the New ...

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Texas leads numerous census tables in growth

Texas

DALLAS — Two Texas cities are among the top five fasted-growing cities by percentage growth in the past year. The U.S. Census Bureau reports the Austin-Round Rock area in Texas is the nation’s third-fastest growing metropolitan area at 3 percent, followed by fourth-place Odessa, Texas, at 2.9 percent. Texas snagged the top spots in both numerical increase by person for ...

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Oil dropped, what about rent?

Jesse Godfrey is one of many Odessans who saw the drop-off in oil and gas activity and wonders when the downturn will begin to show up in his living expenses. Godfrey pays $1,200 a month for his apartment, where similar units have risen to a rate of $1,500. The oil patch equipment inspector has lived in Odessa long enough to ...

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Pioneer asks city for delay

Pioneer Natural Resources CEO Scott Sheffield said Wednesday the company is positioned “as well as anybody to weather this storm” of low oil prices. But, at least for a while, executives are also asking the City of Odessa to weather it with them. Irving-based Pioneer, one ofthe major operators in the Permian Basin, asked city officials about a month ago ...

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Gas prices a $1 less than February 2014

Average retail gasoline prices in Midland/Odessa have fallen 0.5 cents per gallon in the past week, averaging $1.96 per gallon, according to GasBuddy’s daily survey of 156 gas outlets in Midland/Odessa. This compares with the national average that has increased 2.7 cents per gallon in the last week to $2.05 per gallon, according to gasoline price website GasBuddy.com. Including the ...

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Rigs drop as downturn continues

Permian Basin oil producers continued to respond to low prices by scaling back, shedding another 15 rigs during the past week to a total 487. The drop followed the starkest national weekly drop since 1991. Two weeks ago, the Permian Basin shed 28 rigs, nearly half of those nationally. Oil producers are expected to release more rigs as their 2015 ...

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At least 10 killed when prison bus strikes train in Texas

PENWELL, Texas (AP) — At least 10 people were killed Wednesday when a bus carrying state prisoners skidded off an icy highway overpass in West Texas, slid down an embankment and collided with a passing train, a county sheriff said. The overpass on Interstate 20 was slick with ice Wednesday morning when the Texas Department of Criminal Justice bus left ...

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Rigs plummet again

The Permian Basin shed 28 rigs in the past week, comprising nearly half of what nationally amounted to the biggest rig drop since 1991, according to a Friday report from Baker Hughes. The rig fall off represented the most dramatic sign yet of producers’ response to plunging oil prices. Permian Basin producers on Friday saw prices of about $44.75 per ...

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Texas outpaced nation in job growth

Texas flag

FORT WORTH, Texas — West Texas oil country led the nation in job growth last month with the largest year-over-year percentage gains in employment even as oil prices tumbled. According to data released Tuesday by the Bureau of Labor Statistics, the Midland metropolitan area saw job growth rise by 6.2 percent. Odessa followed with a 4.7 percent increase. The Houston ...

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2014’s Oil Boom-erang

The Permian Basin reached 1.85 million barrels of crude production per day this year, capping what for several years now has been an unprecedented boom even as a cloud hangs over the region about whether it will continue. Some 85 percent of Odessa and Midland’s economy ties in directly to the oil industry, according to Amarillo economist Karr Ingham, who ...

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