Raising the Bar: Unique Financing Offers Solution to Fast Track Project in West Texas

By Rick Deremiah

Although it had a booming economy fueled by the oil and gas industry, Midland, Texas, a city of about 120,000, was running on empty — water, that is. In 2011, West Texas suffered its third worst drought in recorded history. By 2012, two of the town’s three surface reservoirs were bone dry and the third was nearly depleted, operating at less than 15 percent of capacity. The future looked bleak as well, with potential restrictions from the Colorado River Municipal Water District slated to kick in mid-2013. Time was running short; a city that had blossomed amidst the vast oil fields was in danger of drying up.