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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Oct 26, 2008
Page
5
Perryman Group head notes the economy’s slow decline rooted in the 1990s tech bubble. He cites deregulation, lax mortgage lending, and credit default swaps as factors driving subprime risk, housing defaults, and global financial turmoil, with gradual policy responses and expected eventual rebound.
The Odessa permit list itemizes residential alterations and additions totaling 116 700 across 17 permits, plus 3 commercial permits worth 385 000 and 4 charge of use permits totaling 17 200. Year to date 2008 permits reach 206 656 474 across various projects.
Los Angeles based KB Home shifts from 3,400 square foot, 450000 homes to downsized 2,400 square foot models at 300000 and now 1,230 square feet near 200000 as the market tightens. Warmington and John Laing follow suit amid falling prices and lending standards.
A dense catalog lists active and reentry oil and gas drilling across Texas counties including Ector Crockett Andrews Martin Crane Upton Pecos and Howard with numerous units and reentries. Companies cited include Apachté Crockett Devon Ener gy Energen Exxon EOG Occidental and more, detailing new drills recompletions and unit numbers.
Midland College Petroleum Professional Development Center lists upcoming courses and special events for Permian Basin oil and gas professionals. Key offerings include Advanced Drilling Technology Workshop on November 11 and the 4th Annual Shale Symposium on November 19 with member and non member pricing and out of state add ons.
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