Category: Eagle Ford News

There has been much said of the Eagle Ford formation in Texas. This area has seen some very good initial production numbers. In Bakken Update: Williston Basin Estimated Ultimate Recoveries And What They Tell Us, I used current EURs to show possible upside to different areas of the middle Bakken. This article will focus on the Eagle Ford, and its current EURs. These estimates can be used to not only compare resource recovery, but also show where the best acreage is.

There are some very large differences between the Bakken and Eagle Ford. First, the Bakken has greater….. See more at source below.

Source:  http://seekingalpha.com/article/321011-how-eagle-ford-compares-to-the-bakken

COLLEGE STATION, Tex. (Real Estate Center) – Texas’ economic outlook for 2012 is positive. 
Job growth is occurring in several sectors, and a low cost of living is enticing businesses to 
move to the Lone Star State.

Source: http://recenter.tamu.edu/news/pdf/NewsRel11-0112.pdf

Dec. 20 (Bloomberg) — While the Eagle Ford shale boom in Texas isn’t the first that Daryl Fowler has seen, the DeWitt County judge is working to ensure that his community will be left with new roads and housing when the oil and gas are gone.

Fowler, whose non-judicial post gives him administrative control over the county 70 miles (112 kilometers) southeast of San Antonio, has negotiated an $8,000-per-well fee from drilling companies to pay for roads. The county was able to reduce its property-tax rate by 18 percent this year while total assessed value jumped 27 percent as producers, including BHP Billiton Ltd., and Pioneer Natural Resources Co., sought permits to drill more than 340 wells.

Source: http://www.businessweek.com/news/2011-12-22/eagle-ford-drilling-rush-may-boost-texas-tax-revenue-15-fold.html

The City of Laredo, the Laredo Development Foundation, and the Laredo Chamber of Commerce will be co-hosting the Eagle Ford Shale Job and Vendor Fair on Friday, January 13, 2012, from 9:00 a.m. – 4:00 p.m. at the Laredo Energy Arena, located at 6700 Arena Boulevard. The event is being organized in cooperation with U.S. Congressman Henry Cuellar, Texas House Representative Richard Raymond, the Eagle Ford Shale Consortium as well as its partners, Texas A&M International University, the Laredo Community College, Texas Workforce Commission, America’s Natural Gas Alliance, and Workforce Solutions for South Texas.

Source: http://www.laredosun.us/notas.asp?id=19324

GEORGE WEST, TX (KTRK) — No matter where he is, it seems in every stump speech, Gov. Rick Perry always stresses the abundance of jobs in our state. No where in Texas is that more evident than along the Eagle Ford Shale in southwest Texas, where the jobs are flowing because of what lies beneath the earth.

Source: ABC Channel 13 Houston –  http://abclocal.go.com/ktrk/video?id=8447234 

Click here for the latest map of the entire Eagle Ford area:

http://www.rrc.state.tx.us/eagleford/images/EagleFordShalePlay201110-large.jpg

There are jobs in abundance in the Eagle Ford shale area, but a group of employers said Monday that it isn’t easy to find qualified workers.

The employers got re-assurance Monday from officials with the Texas Workforce Commission, which will help with job listings, training grants and pairing employers with community colleges to provide customized training. The commission sponsored a symposium in the San Antonio area Monday for Eagle Ford employers to talk about their needs.

source:  Houston Chronicle Eagle Ford

When Ray Kroll took the economic development job in Karnes County a few years ago, the property value of the entire county was around $500 million.

Now, thanks to the Eagle Ford shale play, the property tax rolls have jumped to $1.3 billion.

“To think that you would use the b-word in conjunction with Karnes County is just crazy,” Kroll said. “We’re talking in billions and not millions.”

source: Houston Chronicle Eagle Ford

ECONOMIC IMPACT OF THE EAGLE FORD SHALE

In less than three years of development, the Eagle Ford Shale already accounts for over six percent of the Gross Regional Product for the 24-county South Texas area it encompasses, according to a study released today by the Center for Community and Business Research at the University of Texas at San Antonio Institute for Economic Development.

“The Eagle Ford Shale may be one of the largest onshore natural gas and oil discoveries in the past half century,” saidDominique Halaby, the center’s director. “In 2010 alone, this newest of the Texas shale plays generated close to $2.9 billionin revenue, supported approximately 12,600 full-time jobs in the area, and provided nearly $47.6 million in local government revenue.”

Download Report Here:  http://ccbr.iedtexas.org/index.php/Download-document/47-Economic-Impact-of-the-Eagle-Ford-Shale.html

Source: University of Texas at San Antonio Institute for Economic Development-   http://ccbr.iedtexas.org/Newsflash/economic-impact-of-the-eagle-ford-shale.html

The economy got you down?  Texans rejoice in this video:

http://www.youtube.com/watch?feature=player_embedded&v=KmqKic5Y8DI