U.S. Steel Corp.'s tubular products division said Monday it entered an agreement for a joint venture with a Texas firm to provide services to the energy industry in the Permian Basin, an oil- and natural gas producing region in Texas and New Mexico.
The joint venture with Butch Gilliam Enterprises LLC of Midland, Texas, is called Patriot Premium Threading Services and has operations in Midland, the heart of the basin, U.S. Steel said.
The news comes three days after Downtown-based U.S. Steel announced it is laying off 142 workers.
The new Patriot facility will thread U.S. Steel's tubular products and provide accessories, repair and other services.
Most Popular Stories
- #myNYPD Twitter Campaign Backfires for NYPD
- Pols Back Away From Bundy After Racist Statements
- First-time Jobless Claims Jump by 24,000
- Putin Says Internet Is CIA Plot
- Durable Goods Orders Rose More Than Expected
- Freshman Senators Speak Out on Foreign Policy
- Nasdaq OMX Profits Soar in Q1
- John Oliver Set for 'Last Week Tonight'
- Justin Bieber's War Shrine Pic Causes Flap
- Sina Loses License Over Porn