Latest News
Focusing on guest lifetime value key to maximizing profits
By Midland Times | Jun 28, 2024
In the current business landscape, repeat customers represent the most profitable segment for any company, be it a retailer, restaurant, or franchisor. The emphasis on customer retention is increasingly crucial as businesses face numerous options and fierce competition.
Texas GDP on the world stage: Climbing global economic ranks
By Midland Times | Jun 27, 2024
If Texas were a country, it would be the eighth-largest economy in the world, ahead of Canada and even Russia. In 2022, Texas’ gross domestic product (GDP) — the total market value of all finished goods and services — totaled $2.4 trillion. Texas keeps climbing the world economic ranks; only a decade ago, it was the 12th-largest economy.
Midland City Council approves preliminary plat for The Preserve
By DaLeesa Brown | Jun 26, 2024
During the Midland City Council meeting on June 25, a motion was unanimously approved for the proposed preliminary plat of Grasslands Estates, Section 26. Designated as agenda item No. 13, it involved a proposal to replat Lot 1, Block 21, Grasslands Estates, Section 16, situated at the southwest corner of West Wadley Avenue and Callaway Drive. The current zoning for this area includes Agricultural Estate District (AE) and Local Retail District (LR).
The Half Acre barbeque restaurant receives approval for alcohol sales
By DaLeesa Brown | Jun 26, 2024
At the Midland City Council meeting on June 25, agenda item No. 15 was unanimously approved, amending the city's zoning district map. This amendment grants a specific use designation (SUD) for The Half Acre, a barbecue restaurant located at 1101 Washita.
MAF reports continuous influx of departing passengers for May
By Midland Times | Jun 21, 2024
The Midland International Air & Space Port (MAF) continues to see an influx of airline passenger traffic. Airport officials report that passengers embarking at MAF increased nearly 14% last month.
Private equity stockholders of Permian Resources Corporation agree to registration rights agreement
By Midland Times | Jun 19, 2024
Private equity stockholders of Permian Resources Corporation have adjusted their collective registration rights agreement, allowing the company to generate revenue from future stock. EnCap Investments L.P., Pearl Energy Investments, and Riverstone Investment Group LLC agreed to the revision.
Strategies for economic development: Attracting foreign direct investment
By Midland Times | Jun 17, 2024
Attracting international investment can seem daunting, especially for economic development organizations (EDOs) new to the endeavor or with limited staffing resources. However, successfully attracting foreign direct investment (FDI) to a locale typically provides generous returns. While FDI attraction presents a unique set of challenges, at its core, it works by the same principles as domestic business attraction.
Texas sees significant economic and population growth over a decade
By Midland Times | Jun 17, 2024
The Comptroller’s data analysts have recently updated regional reports, indicating a continued trend of strong economic and population growth in Texas. Some findings were unexpected, while others confirmed existing perceptions.
City Council deliberates on The Tailgate's compliance issues
By DaLeesa Brown | Jun 12, 2024
The City Council meeting on June 11 featured a presentation on The Tailgate and its failure to comply with Specific Use Designations (SUDs) and requirements. Led by Elizabeth Triggs, the city's planning and development officer, the presentation provided updates and suggestions for next steps regarding the property's compliance.
Roseland's Oil and Gas to host Fall Classic Golf Tournament
By DaLeesa Brown | Jun 11, 2024
Roseland's Oil and Gas, an organizer of oil and gas events, announced the Fall Classic Golf Tournament, scheduled for Oct. 3. The tournament will take place from 8 a.m. to 7:30 p.m. at Ratliff Ranch Golf Links, located at 7500 N Grandview Ave. in Odessa.
American Safety Services Inaugurates New I-20 Training Facility and Fire Service Fleet
By Kim delaPena | Jun 10, 2024
American Safety Services celebrated the grand opening of its new training facility and fire service fleet on June 6. The expansion facility is located along Interstate 20 in West Texas.
Permian Strategic Partnership expands with new members Energy Transfer and Phillips 66
By Midland Times | Jun 7, 2024
The Permian Strategic Partnership (PSP) has announced the inclusion of Energy Transfer and Phillips 66 as its newest members, bringing the total membership to 31. Since its inception five years ago, PSP has nearly doubled in size and significantly expanded its impact across Southeast New Mexico and West Texas. The organization collaborates with federal, state, and local leaders to develop strategic plans aimed at enhancing education, healthcare, workforce development, infrastructure, and road safety.
Deep Blue Midland Basin acquires Lagoon Operating
By DaLeesa Brown | Jun 5, 2024
Deep Blue Midland Basin LLC, a joint venture between Diamondback Energy and Five Point Energy LLC, announced the acquisition of Lagoon Operating in a press release on June 3.
AST SpaceMobile, Verizon form strategic partnership
By Midland Times | Jun 5, 2024
The Midland Spaceport Business Park announced that a strategic partnership has been formed between AST SpaceMobile and Verizon late last month. The goal of the partnership is to achieve 100% geographical coverage of the continental U.S. from space on premium 850 MHz cellular spectrum.
MDC board updated on expanded transportation training at Midland College
By Midland Times | Jun 5, 2024
In 2023, the Midland Development Corporation (MDC) Board of Directors approved an agreement to expand Midland College’s Transportation Training Program. The funds from MDC were matched by a High Demand Jobs Training Grant through a partnership with Workforce Solutions of the Permian Basin. This expansion included the acquisition of a new Peterbilt truck and 20 scholarships for program participants.
Texas opens applications for $92 million rebate grants program to reduce NOx emissions
By Midland Times | Jun 3, 2024
The Texas Commission on Environmental Quality (TCEQ) has announced the opening of the 2024 Rebate Grants Program. An estimated $92 million in funding is available to assist in reducing nitrogen oxides (NOx) emissions by upgrading or replacing on-road heavy-duty diesel vehicles and select non-road diesel equipment within Texas nonattainment areas and affected counties.
El Burrito Restaurant out of business after 45 years
By Midland Times | May 31, 2024
A Midland Mexican restaurant has closed its doors after nearly 50 years of operation. Founded in 1979, El Burrito Restaurant at 1106 N Big Spring St. served its last meal earlier this month.
Midland Chamber helps invoice factoring company celebrate milestone
By Midland Times | May 31, 2024
The Midland Chamber helped Velocity Financial celebrate the business's fifth anniversary on May 22. Aside from the milestone, both entities also marked Velocity's move into a brand-new, larger office space.
Permian Resources announces administrative liquidation of Earthstone Energy subsidiary
By Midland Times | May 30, 2024
Permian Resources Corporation has announced the completion of the liquidation of an entity belonging to Earthstone Energy Inc. The latter, a former Houston area company, was an independent oil and gas exploration and production company that acquired, developed, and produced onshore crude oil and natural gas reserves across the country. Permian Resources purchased this entity last year.
ConocoPhillips to acquire Marathon Oil in $22.5B all-stock deal
By DaLeesa Brown | May 30, 2024
ConocoPhillips and Marathon Oil Corporation announced a definitive agreement in which ConocoPhillips will acquire Marathon Oil in an all-stock transaction valued at $22.5 billion, including $5.4 billion of net debt. The announcement was made in a press release on May 29.