Our most recent expansion to the Permian Basin was in response to a growing consumer base, customer feedback and the activity in that region. According to Yahoo Finance, oil rig activity has increased, and although it’s not anywhere near peak levels, “Permian drillers have become more efficient with the deployment of lesser rigs to produce more of crude volumes.”
Midland, Texas has also recently been named the ‘most dynamic’ metro in the United States according to a report by the Walton Family Foundation. Much of the economic growth in this area is due to the energy sector, ranking first in job growth. The report also notes that in 2018, Permian oil production increased by over a million barrels a day, with overall production jumping by 400 percent since 2010. Nearby neighbour Odessa also ranks with Midland among America’s lowest jobless rates.
Midland, Texas has also recently been named the ‘most dynamic’ metro in the United States according to a report by the Walton Family Foundation. Much of the economic growth in this area is due to the energy sector, ranking first in job growth. The report also notes that in 2018, Permian oil production increased by over a million barrels a day, with overall production jumping by 400 percent since 2010. Nearby neighbour Odessa also ranks with Midland among America’s lowest jobless rates.
