Our Long History in Oil and Gas Financing
The history and folklore of American oil and gas production is closely related to the history of Midland-Odessa. From the first traditional oil wells drilled in the Permian Basin in the 1920, to the wildcat era of the 1940-50’s, to the frac boom of the late 1990’s, Midland-Odessa has been a major protagonist in the story of American oil production.
Texas based, Business Finance Solutions has been financing oil and gas service companies, oil and gas production companies, offshore oil and gas companies, materials companies, and oil and gas production companies since 1994. Our finance experts have worked with oil and gas companies in Houston, Dallas, Lafayette, Lake Charles, Oklahoma, and Midland-Odessa, as well as other major oil and gas producing areas.
We have helped hundreds of small and lower middle-market companies with equity, senior debt, mezzanine debt, and combinations of debt and equity. We are good at what we do and specialize in helping hard to finance companies.
The Permian Basin, and its two largest cities, Midland (Midland County) and Odessa (Ector County) are producing more crude oil for the United States than any other part of the country. The map below shows the enormity of the oil play.
The entire basin is 250 miles wide by 300 miles tall. The Permian Basin has produced over 30 billion barrels of oil in its 100-year life and 75 trillion cubic feet of gas. It is currently the second largest oilfield in the world. Some experts believe the Permian Basin has over 150 billion barrels of recoverable reserve left.
Midland and Odessa are each about the same size. Both have populations of about 180,000 and each is headquarters to many small and mid-sized companies that provide services to the oil and gas industry.
At any given intersection in either Midland or Odessa, you can see a half dozen pneumatic trucks that haul fracking sand or provide pressure pumping services waiting on lights to change. Pipe yards and material suppliers line major highways and industrial complexes.
According to the Baker Hughes Rig Report, as of August 25, 2017, there were 920 oil and gas drilling rigs operating in the U.S. Approximately 1/3 of them were drilling in the Permian Basin. The U.S. government Energy Industry Administration which keeps track of production statistics indicates that as of August 2017, the Midland-Odessa region is producing approximately 2,600,000 barrels of oil per day. The average well produces 595 barrels per day. The Permian region produces a fair amount of natural gas as well.
Types of Oil and Gas Companies we Finance
This is a partial list of the types of companies we work with on a daily basis in the Midland-Odessa area.
|Oil and gas exploration and Production||Oil and gas service companies||Oil and gas material suppliers|
|Oil and gas pipeline construction||Oil and gas chemical||Oil and gas wireline and slick line|
|Oil and gas coiled tubing||Oil and gas drilling||Oil and gas workover|
|Oil and gas analytical testing labs||Machine shops||Trucking and transportation|
|Crude oil transloading||Pipeline service and construction||Pipeline integrity|
|Equipment rental||Metal fabrication||Equipment repair|
|Security and gate guard service||Workover crews||SCADA and remote monitoring|
|Fracking sand and proppants||Electrical submersible pumps||Environmental reclamation|
|Rig and equipment washing||Well bore cementing||Casing work|
|Plug and abandonment||Well site work||Aggregates and road base|
|Solids control||Safety consulting||Salt water disposal wells|
List of Texas Counties in the Permian Basin
New Mexico Counties in the Permian Basin
There are three large New Mexican counties that are part of the Permian Basin. They are Chavez, Eddy, and Lea.
If you have an oil and gas service or exploration company that needs growth capital, or funds to acquire another company, or expand a product line, call us at 512-990-8756. We speak your language!