MDC Presents 51 New Jobs to Council
The Midland Development Corporation (MDC) Board of Directors presented an economic development agreement for $250,000 to the Midland City Council on April 13, 2010. The agreement to Apache Corporation is an incentive for 51 new jobs in Midland at an annual payroll in excess of $5 million. The agreement was approved by the City Council with a unanimous vote.
Based out of Houston, Apache Corporation has committed to an expansion of their operations with the creation of a new regional Permian Office in Midland. After conducting their Permian Basin operation out of offices in Tulsa for several years, effective July 1, 2010 Apache will occupy 48,185 square feet of office space at 303 Veteran’s Air Park Lane. The new facility is currently undergoing extensive renovations to facilitate the new operations.
“This project is a text book example of a project for Midland and the creation of new jobs for Midland,” said David Mims, board chair of MDC.
With a large presence in the Permian Basin since the 1990’s, Apache Corporation currently produces 40,000 barrels of oil and 100 cubic feet per day of natural gas from the Permian Basin. Overall in 2009, Apache produced 583,000 barrels of oil equivalent per day and replaced 101 percent of production.
“Our focus on the Permian Basin will make a significant contribution to Apache’s projected growth in 2010,” explained John J. Christmann IV, newly named vice president of the Permian Region. “Our commitment to Midland is evidence of our confidence in the long-term partnership between Apache and this region.”
In the effort to meet the requirements of the creation and relocation of a minimum of 51 primary jobs, Apache anticipates annual salaries and wages of $5 million and will include administrative and professional positions in engineering, geosciences and land.
“We look forward to our strategic alliance with Apache. Apache’s expectations of the new regional facility in Midland, coupled with their continued successes in other regions is a great testament to the type of corporate citizen we want-and need-in Midland,” said Mims. “Apache also makes tremendous strides in their communities with their strong stewardship of both time and money.”
Houston-based Apache Corporation (NYSE and NASDAQ: APA) is an independent energy company that explores for, develops and produces natural gas, crude oil and natural gas liquids. In North America, their exploration and production interests are focused in the Gulf of Mexico, the Gulf Coast, East Texas, the Permian basin, the Anadarko basin and the Western Sedimentary basin of Canada. Outside of North America, they have exploration and production interests onshore Egypt, offshore Western Australia, offshore the United Kingdom in the North Sea, and onshore Argentina. Apache also has exploration interests on the Chilean side of the island of Tierra del Fuego.
The Midland Development Corporation (MDC), created in January 2002, offers assistance to qualified new and existing employers who create and retain jobs for the community. A five-member board appointed by the City Council governs the Midland Development Corporation.
