A Maverick in well services grows in Kilgore
Image courtesy of Kilgore Chamber of Commerce
Maverick Well Services in Kilgore will add 30 full-time positions over the next five years.
President James Abell has been so busy maintaining oil wells over the last four years that he failed to realize he had a partner willing to pump incentives back to him through the Kilgore Economic Development Corp., according to a press release.
Abell has grown the business from one rig to nine and employment from five to 50 since he took the company’s reins four years ago. Now he’s committed to adding $9.5 million in personal property improvements and 30 full-time employees.
In return, KEDC will grant rebates up to $189,088 payable over the same time period.
“We looked at KEDC as a way to grow” Abell said. “Honestly, I wish I had thought about using them before now. It just hadn’t occurred to me. I thought of them as more of trying to bring in outside business here, but it certainly makes sense for a business like ours that has the potential to continue to grow, to add employees, and to purchase equipment here, for them to be involved.”
With a payroll of $300,000 a month, Maverick has turned its workhorse appearance into a thoroughbred presence in Kilgore. In addition to employees who spend their paychecks at home, the company’s yard falls in the city’s recent annexation along U.S. Hwy. 42, thus growing the city’s tax base.