McCoy’s Building Supply manager Tyler Louis cut through a 2-by-4 board in under 10 seconds with a sharp hand saw to the applause of about 50 well wishers celebrating the company’s 30 years in Hobbs on Thursday. Originally founded by Frank McCoy in 1927 as the McCoy Roofing Company in Galveston, the expanding company came to Hobbs in May 1988. …

Firehouse Subs blazed its way onto the Hobbs scene with its grand opening and ribbon-cutting ceremony Friday. The event was supported by more than 40 people including at least a dozen members of the Hobbs Fire Department. Interim City Manager and Fire Chief Manny Gomez welcomed Firehouse Subs, giving franchise co-owner Jack Kassis the symbolic key to the city, and …

Diamondback Energy to acquire Energen MIDLAND, Texas–(BUSINESS WIRE) Diamondback Energy, Inc. and Energen Corporation announced that they have entered into a definitive agreement under which Diamondback will acquire Energen in an all-stock transaction valued at approximately $9.2 billion, including Energen’s net debt of $830 million as of June 30, 2018. The consideration will consist of 0.6442 shares of Diamondback common …

EnLink Midstream to Build New Delaware Basin Crude Oil Gathering System DALLAS, June 27, 2018 /PRNewswire/ — The EnLink Midstream companies (EnLink), EnLink Midstream Partners, LP (NYSE: ENLK) (the Partnership or ENLK) and EnLink Midstream, LLC (NYSE: ENLC) (the General Partner or ENLC), announced that the partnership will construct a new crude oil gathering system in the Northern Delaware Basin called the Avenger Crude Oil Gathering …

Kinder Morgan, EagleClaw, Apache announce development of the Permian Highway Pipeline Project HOUSTON–(BUSINESS WIRE)–Jun 25, 2018–Kinder Morgan Texas Pipeline LLC (KMTP), a subsidiary of Kinder Morgan, Inc., EagleClaw Midstream Ventures, LLC, a portfolio company of Blackstone Energy Partners, and Apache Corporation announced they have signed a letter of intent for the development of the proposed Permian Highway Pipeline Project (PHP …

OPEC countries to pump more oil to contain price increase By KIYOKO METZLER, Associated Press VIENNA (AP) — The countries of the OPEC cartel agreed on Friday to pump 1 million barrels more crude oil per day, a move that should help contain the recent rise in global energy prices. Questions remain, however, over the ability of some OPEC nations — …

Supreme Court: Online shoppers can be forced to pay sales tax By JESSICA GRESKO, Associated Press WASHINGTON (AP) — States will be able to force shoppers to pay sales tax when they make online purchases under a Supreme Court decision Thursday that will leave shoppers with lighter wallets but is a big win for states. More than 40 states had asked …

OPEC oil ministers gather to discuss production increase By KIYOKO METZLER, Associated Press VIENNA (AP) — The oil ministers of the OPEC cartel were gathering Tuesday to discuss this week whether to increase production of crude and help limit a rise in global energy prices. The officials were arriving in Vienna ahead of the official meeting Friday, when they will also …

Supermajors need to invest nearly $30 billion in Permian Basin through 2020 HOUSTON–(BUSINESS WIRE)–Jun 18, 2018–A new energy report from business information provider IHS Markit says that the three supermajors active in the Permian Basin — Exxon Mobil, Royal Dutch Shell and Chevron  — will need to invest nearly $30 billion in the oil and gas play through 2020 to …

New IHS Markit Outlook – “Stunning” Permian Basin oil production to more than double from 2017-2023, exceeding expectations (BUSINESS WIRE)–Jun 13, 2018–Oil production in the Permian Basin, already a major force in global supply growth, will rise nearly 3 mbd by 2023—a level of growth exceeding most recent estimates, a new outlook by business information provider IHS Markit (Nasdaq: INFO) …