Halliburton hiring hundreds as oil prices stay low

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PERMIAN BASIN -- The price of oil is struggling to reach $50 per barrel, but that's not stopping oil companies across the basin from hiring hundreds of employees.

Oil service company Halliburton says they’ve hired 100 employees each month from the beginning of the year until now. For the company, that’s a 35% increase in employees in the Permian Basin.

"They're taking their drilling budgets from elsewhere in the country and concentrating in the Permian Basin," Financial expert Mickey Cargile said.

It looks like a boom is slowly trickling back in the Basin.

"I think we're in a period that's going to be a very long-term, high-growth period for the Permian Basin," Cargile said.

There are several oil boom indicators and another just got approved in Midland. The city is slated for a brand new 362-unit apartment complex on Mockingbird Lane.

"Fast forward to this year, we're seeing tremendous increase in construction permits to this point. We've already surpassed 2016 and part of 2015 in construction permits," Midland Mayor Jerry Morales said.

Halliburton has taken their recruiting efforts outside of Texas. The company has looked to hire employees from Colorado, Oklahoma, Wyoming and North Dakota.