Oct. 16–Organizers of the Permian Basin International Oil Show have chosen Tim Leach, chairman and chief executive officer of Concho Resources, as this year’s honoree.
Leach said he is honored by his selection and to be recognized by his peers, “but I feel like it’s an honor for Concho as well.
“It’s a big honor,” he said. “I’ve been going to the oil show since I was a pup.”
OIL REPORT: Hearst, Reporter-Telegram to present 2018 Hearst Energy Awards
He is looking forward to attending this year’s show. “It’ll be like a homecoming,” he said.
For Leach, the oil show highlights the importance of the Permian Basin as well as the importance of the oil and gas industry and shows the breadth of what it does.
“It highlights to the rest of the world what we’re doing here, and what we’re doing here is changing the world,” Leach said.
Driven by the growth in Permian Basin crude and natural gas production, the United States is quickly becoming the world’s largest oil producer, he said.
As a result, “people are more understanding of the importance of the Permian Basin and the work going on here in relation to the state and the nation,” Leach said. “We’re no longer a backwater little producing basin.”
OIL REPORT: Hearst Energy Award — past recipients
He estimates growth in output from the Permian Basin will be greater than that of the other shale-producing basins combined.
The success of the Permian Basin can be seen in the companies building positions out here, he said.
For the oil show to honor him and, more importantly, Concho as a locally headquartered, Permian Basin-focused company is “the appropriate time. The Permian Basin is so important and it’s so important to be here.”
The Permian “is the right place at the right time,” Leach said.
(c)2018 the Midland Reporter-Telegram (Midland, Texas)
Visit the Midland Reporter-Telegram (Midland, Texas) at www.mywesttexas.com
Distributed by Tribune Content Agency, LLC.