HOBBS, N.M. (KRQE) – It could be a good sign after a few down years in the oil and gas industry in New Mexico — a national company is expanding, opening a headquarters in Hobbs.
“Our people are the lucky ones,” said Curtis Mewbourne, founder of Mewbourne Oil.
Curtis Mewbourne opened the doors to his new regional headquarters for operations in Hobbs Wednesday. After a few slow years in the oil and gas industry, it’s exactly what people in Hobbs want to see — life coming back to their town.
“It’s great to have them doing things bigger and better in southeast New Mexico,” Hobbs resident Jim Nelson said.
Founded in 1965, the Texas-based company has seven offices and is the fourth largest privately held oil and gas company in the country.
“We run our business for the long term and we’ll be here for another 50 years. We have the strongest financial condition of any independent oil company in America,” Mewbourne said.
Hope is in the air for many Hobbs residents that another boom for the Permian Basin is on the horizon
“I think it would be pretty good. It’ll bring a lot of jobs and give people the opportunity to get back on their feet and come back into a great place. I think it’ll be a good explosion in the oil industry, bringing up more companies. Maybe they’ll open up more places and bring people back into business,” Adrian Navarette said.
Many people have big expectations for Mewbourne Oil Company, including Gov. Susana Martinez.
“Hobbs, Artesia and all of the small surrounding towns are going to benefit from this because there are jobs that are coming to the small communities,” Martinez said
The new regional headquarters brings over 130 jobs with it..
“Hobbs has been in a slump for so long. It’s bringing back a bunch of jobs which people needed, and it’s bringing back hope,” city employee Franklin Sifford said.
At one point, Hobbs didn’t have enough homes for everyone moving there. Now, there’s hope workers and business will be moving back in soon.
“The oil and gas industry and the companies are going to know when this hits home, and they’re going to come back home to work here and have their companies here,” Gov. Martinez added.
The company has drilled more than 2,000 wells around the U.S. and produces enough crude for 70,000 barrels of oil per day.