Permian basin coalition transforms $153 million into $1.5 billion in collaborative investment
(WO) – The Permian Strategic Partnership (PSP), a coalition of 30 leading Permian basin energy companies and higher education institutions committed to strengthening and improving the quality of life for Permian basin residents, released its 2023 annual report, reflecting on the impact of their last five years.
Since its creation in 2019, the organization has doubled its membership and committed $153 million in philanthropic investments to generate over $1.5 billion in community support and collaborative investments.
As the philanthropic arm of the region's largest energy industry employers, the PSP and its members have dedicated efforts to strengthen and improve the quality of life for the communities where their employees live, work, and raise their families. The announcement highlights these companies and universities' profound impact on the region's communities.
"As we look back on the remarkable progress we have made over the past five years, we are filled with optimism and determination for the journey ahead," said Tracee Bentley, President and CEO of the PSP.
"The Permian basin stands as a testament to the resilience and sustainability of our community, and it is our collective responsibility to ensure that its potential is fully realized. In the pursuit of this vision, the importance of continued public-private partnership cannot be overstated."
Through effective public-private partnerships, the PSP has successfully enhanced the quality of life for residents in the Permian basin, spanning 22 counties in West Texas and Southeastern New Mexico. The PSP's notable investments have been dedicated to addressing critical needs in the region, including:
- $65,100,000 in education investments impacting hundreds of thousands of students
- $58,700,000 in healthcare investments to strengthen and expand access for the region's 2 million residents
- $7,800,000 in critical road safety initiatives, programs and life-saving equipment
- $13,900,000 in workforce development to train and upskill the region's current workforce
The PSP members are Apache Corporation, BPX Energy, ChampionX, Chevron, Civitas Resources, ConocoPhillips, Coterra Energy, Devon Energy, Diamondback Energy, Endeavor Energy Resources, Energy Transfer, EOG Resources, ExxonMobil, Halliburton, Helmerich & Payne, Kinetik, Liberty Energy, Mewbourne Oil Company, Occidental, Ovintiv, Permian Resources, Phillips 66, Plains All American, ProPetro, SLB, Targa Resources, The Texas Tech University System, The University of Texas System, WaterBridge Resources, and Western Midstream.
