On October 27, 1900, an Austrian-born mining engineer named Anthony F. Lucas spudded in an oil well on a hill near Beaumont. He’d drilled a previous well in the vicinity to a depth of 575 feet before running out of money and giving up, but this time he’d secured financing
Wayland grew up in Midland and has worked in the oil industry for nearly a decade. He is now a mud engineer for Baker Hughes Drilling Fluids in Victoria.When I was growing up in Midland, I didn’t want anything to do with the oil field. In junior high, you learn
The real Enron scandal.
Six months after the merger of Exxon and Mobil, a tally of the winners and losers.
The biggest economic news in Texas is the merging of the electric and natural-gas utility industries in anticipation of the coming deregulation of electricity. Huge deals are in the works: Houston Industries, the parent of Houston Lighting and Power, is acquiring Houston-based NorAm, the nation’s third-largest gas utility; and Texas
The state’s big investor-owned utilities, aptly nicknamed IOUs, are in big trouble—and Wall Street knows it. Historically, the IOUs have been able to block damaging legislation calling for the deregulation of electricity and immediate rate cuts, but the once-friendly Public Utility Commission has turned against them. In a sweeping and
It’s not enough to say that associate editor Helen Thorpe was a fish out of water while reporting her story on the new oil plays in the Gulf of Mexico (“Oil and Water,”). She was really a fish out of water on the water. Three different times, the 31-year-old,
Ten years ago I guess you could call yourself a Texan if you hadn’t been to the Offshore Technology Conference in Houston, but an easy conversance with the OTC and its ways certainly bolstered your credentials. Back then the OTC was, like riding a horse or drinking a beer in