US Shale Firms Put Up $16.5 Million To Build West Texas Charter Schools

Twenty top US energy companies agreed to contribute $16.5 million to open new schools in West Texas, where an influx of oil and gas workers have strained schools, roads, and other civic services.

This is the first initiative by the Permian Strategic Partnership, a consortium of shale producers that has pledged to raise $100 million to address civic strains, a spokesman for the group said. The companies all operate in the Permian Basin, the top US shale field.

Another $22 million will be donated by local foundations and philanthropists. The funds are earmarked to bring IDEA Public Schools, a national tuition-free charter school, to the region, the group said.

The Permian Strategic Partnership aims to address labor and housing shortages, school overcrowding, healthcare, and traffic congestion in the Permian Basin. Its founding members are oil and gas producers and suppliers that aim to pump millions of barrels of oil and gas in coming decades.

Read the full story here.

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