Amidst the energy downturn, a Tyler,Texas company is investing more than $6 million in new headquarters in the Permian Basin. Mewbourne Oil has started construction on a 32,000-square-foot office in Hobbs, New Mexico.
The Hobbs News-Sun quotes Mewbourne Oil President Ken Waits as saying the existing offices in the eastern New Mexico city are old and employees have run out of space.
About 120 workers are hired at the Mewbourne office in Hobbs. The company does not anticipate making any more hires following the construction of the expanded office. Mewbourne is headquartered in Tyler, Texas but has extensive operations in the Anadarko Basin in Oklahoma, Kansas and the Texas Panhandle.