Voters in Deep Red Texas Oil Patch Pass $1.4 Billion School Bond.

Voters approved a $1.4 billion bond sale to refurbish and expand the aging, overcrowded school system in Midland, Texas, the unofficial shale-oil capital of the US, preliminary results show.

The school spending package — the largest ever in the district’s history — was approved by a 56%-to-44% margin Tuesday, according to the Midland County website.

The initiative had backing from many of the area’s biggest oil companies, including Chevron Corp., Diamondback Energy Inc. and Pioneer Natural Resources Co., which Exxon Mobil Corp. is buying in its largest takeover in more than two decades.

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Bloomberg Markets

By Mitchell Ferman

November 7, 2023

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