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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Hulen Pointe Shopping Center sold

Hulen Pointe Shopping Center, located in southwest Fort Worth on South Hulen Street one mile south of Hulen Mall, has been purchased by Addison-based Bo Avery with TriMarsh Properties for an undisclosed price.

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Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Fort Worth temporarily stops issuing new home permits in TCU area

The moratorium will give a committee and the City Council time to review a proposed overlay that will pare the number of permissible unrelated adults living in the same house.

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Basic Energy Services boosts 2014 capital budget

A. Lee Graham

Reporter

Basic Energy Services Inc.’s board of directors has approved increasing the Fort Worth company’s 2014 capital expenditure plan by $50 million for purchasing about 60,000 hydraulic horsepower of hydraulic fracturing equipment.

The total 2014 capital expenditure plan, including the increase, totals $285 million, which includes $155 million for expansion projects.

"Due to the improving environment of completion activity and the increase in customer demand, we decided to take advantage of these positive trends to expand our pumping services fleet,” said president and CEO Roe Patterson in a news release.

“Profit margins for these services have been stable and have recently begun to improve with increased utilization. We believe the fundamentals and competitive returns we're experiencing justify adding more growth capital at this time,” Patterson said.

The equipment should be operational by September and generate about $24 million of revenue in 2014, according to the company.

“We now expect to have a total of 400,000 HHP [hydraulic horsepower] of pumping equipment by the end of this year," Patterson said.

Basic Energy Services, which provides oil and gas well-site services, employs more than 5,500 workers in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas and the Rocky Mountain and Appalachian regions. More information about the company and its latest quarterly results is available at www.basicenergyservices.com.

lgraham@bizpress.net

 

 

 

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