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The Texas Permanent School Fund, the largest education endowment in the United States, is surrounded by a wall of secrecy built up by years of erosion of the Texas Public Information Act. → Read More
In the last 12 years, the story of Imperial Sugar Land has intertwined with that of one of greatest and oldest gifts given by Texas' founders: the Permanent School Fund, a 165-year-old endowment created to forever fund public education in Texas. → Read More
In the last 12 years, the story of Imperial Sugar Land has intertwined with that of one of greatest and oldest gifts given by Texas' founders: the Permanent School Fund, a 165-year-old endowment created to forever fund public education in Texas. → Read More
A new Houston Chronicle investigation, "Broken Trust," reveals that the Texas Permanent School Fund - at $44 billion, the country's largest education endowment - should be billions larger than it is. Politically connected investment managers are collecting soaring fees while returns lag behind other comparable funds. → Read More
The Permanent School Fund has failed to match the performance of peer endowments, missing out on as much as $12 billion in growth and amassing a risky asset allocation, a yearlong Houston Chronicle investigation reveals. → Read More
The Permanent School Fund has failed to match the performance of peer endowments, missing out on as much as $12 billion in growth and amassing a risky asset allocation, a yearlong Houston Chronicle investigation reveals. → Read More
Gun rights supporters promise to protest a gun control rally this evening in downtown Houston. The pro-gun advocacy group Open Carry Texas is urging gun owners and their families to attend an event of the national March For Our Lives bus tour, scheduled to stop at 6 p.m. at City Hall. The bus tour, founded in the wake of the shooting that killed 17 at Marjory Stoneman Douglas High School in… → Read More
So far, they lament, none of the $10 billion approved by Congress for long-term flood recovery in Texas has made it to local governments. → Read More
Investors large and small are snapping up thousands of properties flooded by Hurricane Harvey. From billion-dollar Wall Street funds to mom-and-pop flippers, they've already purchased at least 5,500 flooded homes, often for dimes on the dollar. → Read More
Investors - from billion-dollar Wall Street funds to mom-and-pop flippers - are snapping up thousands of properties flooded by Hurricane Harvey. → Read More
Fans started showing up at Toyota Center five hours before tip-off on Sunday. At first, it was just a few, decked head-to-toe in Houston Rockets' red and black. They took selfies in front of the downtown arena. They soaked in the pre-playoff quiet before the radio DJs and Rockets cheerleaders and mechanical bull all arrived. And they made predictions: This Rockets team, so many said, was about… → Read More
Many homeowners don't get warned that their property could be vulnerable to ever-bigger storms. Harris County flood maps continue to change, but slowly. → Read More
Chevron Corp. has owned land and leases in the Permian Basin for 100 years. In the 1980s and 1990s, when the basin was deservedly viewed as dried-up, Chevron stayed. It almost didn't, though. At times, when the company needed to cut costs, its old Permian land came up. But some Chevron chiefs cautioned against selling. They knew the shale held a lot of oil and someone would figure out how to get… → Read More
The oil and gas company Hess Corp. is laying off about 300 employees or 13 percent of its workforce this year as it labors to sell off assets, slim down operations and post its first quarterly profit since 2014. → Read More
MIDLAND - Jim Purvis started in the oil field digging ditches, sold his first prospect at 21, and then, in cowboy hat, bolo tie and double-pocket shirt, spent the next 60 years roaming the expanse of desert known as the Permian Basin, hoping to find oil before someone else did. The company he founded, Purvis Operating Co., was among the small Texas wildcatters that took big risks for big… → Read More
The U.S. rig count leaped 15 this week, the largest increase in eight months, with oil prices surging past $63 a barrel and confidence returning to the patch. Houston oilfield services company Baker Hughes, a GE company, reported Friday that the number of oil rigs in U.S. fields jumped 10 to 752, and gas rigs up five to 187. → Read More
Environmentalists fighting a series of oil waste disposal wells near Balmorhea State Park in West Texas have uncovered an unlikely ally: the Houston oil company Apache Corp. Apache, which has almost single-handedly developed the area for oil and gas drilling, joined with West Texas residents and environmentalists from across the country to quash a plan by NGL Energy Partners to inject oil and… → Read More
The U.S. rig count fell two this week, despite oil prices cresting $60 a barrel. Houston oilfield services company Baker Hughes, a GE company, reported Friday that oil rigs stayed steady at 747, but gas drillers fell two to 182. The total has slipped to 929, 29 off its recent peak of 958, at the end of July. → Read More
A baker's dozen of the hippest at the Houston investment bank Tudor, Pickering, Holt put together an office rendition of the Atlanta trio Migos' rap "Bad and Bougee," complete with a Styrofoam-plate drummer, a coffee-cup xylophone and one guy who knew all of the words. Without stumbling. → Read More
Operators have pumped more barrels of oil out of West Texas' prolific Permian Basin than ever before. Permian production hit 815 million barrels in 2017, blowing past the previous record of 790 million barrels set in 1973, business research firm IHS Markit said on Tuesday. "The magnitude of the rebound in Permian Basin liquids production is unprecedented," analyst Reed Olmstead said in a report.… → Read More