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Funding sought for uranium deconversion plant

radioactive

HOBBS, N.M. — An Idaho-based company that plans to build a uranium deconversion plant in southeastern New Mexico is struggling to find funding for the $125 million project. International Isotopes President Steve Laflin tells the Hobbs News-Sun that with oil prices falling and a surplus on the market, no one is interested in investing in nuclear projects. The plant would be ...

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1 dead in fiery West Texas plane crash

ODESSA, Texas — Authorities say one person has been killed in the fiery crash of a single-engine plane into a West Texas field. The Department of Public Safety says the crash happened Monday morning just west of Odessa and one person died. Further details on the victim weren’t immediately available. Federal Aviation Administration records show the plane was registered to ...

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Lower oil prices a threat to Texas economy

texas

These days, Texas consumers are celebrating the lowest gasoline prices in more than five years. But lower oil prices are also a risk factor for the overall Texas economy, which depends heavily on the energy industry. In fact, some experts say Texas is in danger of losing billions in revenues and hundreds of thousands of jobs due to the declining ...

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Another NM oil town approves housing project

EUNICE, N.M. — Another southeastern New Mexico region is trying to address its housing shortage. Councilors in Eunice recently voted to approve $1 million awards from the New Mexico Mortgage Finance Authority to construct a 16-unit housing complex. City Manager Marty Moore says the two awards will help alleviate infrastructural stress. He says the apartments are going to be affordably ...

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Will policies and falling prices derail fracking?

Two recent events have cast some doubt about the seemingly bright future of fracking in various parts of the country. The first has to do with a few voter-driven efforts to eliminate fracking. The second is related to the recent plunge in energy prices. While voters and many municipal governments have decided to restrict fracking, few have banned it altogether. ...

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Texas could lose 128,000 jobs

job cuts

Declining oil prices may be helping consumers at the pump and the US economy, but it could hit Texas a little harder than in other places. Fuel Fix reports, “If U.S. benchmark crude remains cheap at around $55 a barrel, the state could lose 128,000 jobs by the middle of 2015, according to a Federal Reserve Bank of Dallas model ...

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UT System regents authorize hiring of a CEO to oversee oil lands

University of Texas System regents on Monday authorized hiring a chief executive officer to oversee the system’s vast West Texas lands, which are rich in oil and natural gas deposits. A consulting firm recommended last year that the UT System hire a CEO and expand its staff in Midland in light of a dramatic increase in drilling. Royalty payments and ...

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Air Products begins building liquid nitrogen production facility

Container with liquid nitrogen

Air Products has begun construction on the $32 million liquid nitrogen production facility in the south industrial park of JBS Parkway. The Pennsylvania-based company closed on a land purchase for the property in September from Grow Odessa, better known as the Odessa Industrial Development Corporation. That came nearly a year after announcing the facility, which will produce about 250 tons ...

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KWI acquires new business

Today, KW International, LLC (KWI) announced its acquisition of Advance Fabrication & Measurement LLC (AFM). KWI, an OFS Energy Fund portfolio company, and AFM’s partnership will diversify KWI’s product offering, expand its customer base and provide an additional manufacturing facility located in Midland, Texas.  With the deal, all of AFM’s employees were hired at KWI, which increases KWI’s employees to about ...

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