Local Oil and Gas Company Marks Century in Tall City

Local Oil and Gas Company Marks Century in Tall City

By Devin Sanchez
NewsWest 9

MIDLAND - 800 guests are expected to help celebrate Fasken Oil and Ranch Ltd. celebrate their 100 years in Midland.

"Tonight (Thursday), we're celebrating 100 years of doing business in Midland for the Fasken family. We date ourselves back to 1913," Norbert Dickman, General Manager of Fasken Ltd., said.

A century ago, Canadian David Fasken purchased a big chunk of West Texas land, site unseen.

"In the 1940's, they discovered oil on the property, called the Midland Farms field, and that became very prolific actually," Dickman said.

Now, Fasken operates more than 400 oil and gas leases across the region.

"We're a family owned business, even though we've grown quite a bit, we're up to 200 people, that's quite a few," he said.

Now, the company is branching out and has a 1,000 acre community in the works, dubbed "The Vineyard."

"In about a month, we will be breaking ground for an apartment complex to the south, 176 units. And two office buildings to the north," Dickman said.

At the heart of Fasken's new venture, the state of the art corporate headquarters, right off Holiday Hill Road.

"There are two purposes for our celebration tonight; the history, the anniversary and the dedication of our new building as the anchor of our new development," he said.

Even with such a huge milestone reached, Dickman said the best is yet to come.

"The future is really great out here, we think the two industries, real estate and oil and gas can work together. That's part of our plan," he said.

Mr. Dickman said he also hopes Fasken can serve as a model to other oil and gas companies in the community.