Energy News Today

Midland Wildcat Committee honors Mewbourne Oil

Though headquartered in Tyler, Mewbourne Oil’s roots are firmly planted in the Permian Basin.

Founder Curtis Mewbourne – who passed away in June – drilled his company’s first wells in Glasscock County in 1965, said Ken Waits, the company’s president and chief executive officer.

“We’re still drilling there – that says all that needs to be said about the Permian Basin,” he said while in Midland for a reception the Midland Wildcat Committee held for the company.

The Permian Basin will see the majority of its resources allocated, he continued. Mewbourne currently operates 20 rigs in the Permian Basin – both in the New Mexico portion and in Loving and Reeves counties in Texas, where it focuses on the Delaware Basin, though he said the company is also active in the Midland Basin. Another four rigs are being operated in the Anadarko, according to Cody Owens, vice president, exploration.

“Being privately owned, we’re able to plan more for the long term,” observed Waits. “We want to have healthy, long-term growth.”

With the passing of its founder, Waits said the question arose as to what the company would continue to look like.

“He was a tremendous planner,” he said. “The company is in great shape, the estate is in great shape. The Mewbourne family is committed” to continuing its operations.

“We’re looking forward with great optimism. The Permian Basin will be a big part of our plans. We believe it’s the best basin in the world.”

Mewbourne has exploration offices in Amarillo, Midland – which handles exploration and development in West Texas and Southeast New Mexico – and in Oklahoma City. Operational offices are in Perryton and Midland – which oversees West Texas — Hobbs, New Mexico – which oversees Southeastern New Mexico – and Woodward, Oklahoma.

“We want to be engaged in the communities where we operate,” said Waits. “In Midland and in Hobbs, we offer great, stable long-term employment and give back to the communities. Everyone talks about ESG (Environment, Social and Governance) – that’s a core part of ESG.”


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2022-09-10 19:48:11

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