Permian

Americas

Labor shortages in West Texas getting worse

The latest shale drilling boom is driving unemployment to the lowest levels in years in many of the areas that encompass the Permian Basin, a 17-county region that spans West Texas and eastern New Mexico, according to data compiled by the Permian Basin Regional Planning Commission, a cross-border coalition geared toward diversifying the region’s economy.

Americas

Texas shale drillers lure $2 billion in new equity to Permian

Oil producers in West Texas, defying expectations they would fall victim to OPEC’s price war, are instead selling investors on the idea that they can still profit with prices below $35 a barrel. Drillers in the Permian Basin, the biggest US shale field, have raised at least $2 billion from share sales over the past eight weeks. And more issuances are on the way as producers try to avoid piling on additional debt.