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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Jul 03, 2015
Page
1
The Odessa American business office is closed today for the Fourth of July holiday. Customer service is open 6 a.m. to 10 a.m. both today and Saturday. Call 888-693-7191. ON THE WET 0a0a.con
Baker Hughes count shows Permian Basin up by one to 232 rigs, while U.S. oil rigs rise to 640 and total rigs reach 862 with a nine rig drop in gas. The week’s increase may reflect in transit movement between leases rather than active drilling. A second note invites families to Noel Park for a free summer picnic July 11 from 11 a.m. to 1 p.m.
Odessa Pumps and Equipment will be acquired in an all cash deal by Distribution NOW, a National Oilwell Varco spinoff. Terms were not disclosed and federal approval could come as soon as July. Odessa employs over 300 people across 15 locations in 13 cities and will remain under its name. Owners Toby and Sondra Eoff will stay with the company, helping growth and plans for a Grand Junction location next month.
Toby Eoff notes that a large purchaser will have greater buying power, suggesting significant scale will influence the deal. He emphasizes that the buyer's capacity to negotiate could affect pricing and terms.
Liz Hernandez, 36, received 240 months for murder with firearm during drug trafficking, and her son Brian Hernandez, 18, was sentenced to 41 months for conspiracy to possess and distribute methamphetamine. Both had pleaded guilty to roles in the May 13, 2014 death of Sean Lamb.
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