Eagle Ford Economic Impact and Threats

Good Eagle Ford economic impact summary from the Caller in Corpus. 13,000 full-time jobs are related to Eagle Ford production and that number could grow to 70,000 by 2020. The number of permits being issued by the TX RRC has also skyrocketed. The agency issued 1,200 permits in the first half of the year compared to just 94 in 2009. The article goes on and Porter identifies the EPA and the government as the largest threat to the oil & gas boom in South Texas.

The economic frenzy Eagle Ford Shale drilling has ushered into South Texas will continue as long as the federal government gives the state breathing room to regulate development, a state official said.

South Texas continues to post impressive economic numbers because of drilling activity, Texas Railroad Commissioner David Porter told attendees at the Corpus Christi Chamber of Commerce’s luncheon Thursday.

A University of Texas-San Antonio study completed earlier this year showed 13,000 full-time jobs tied to Eagle Ford production, Porter said.

By 2020, that number is projected to reach 70,000 jobs.

The Railroad Commission issued 1,010 permits for Eagle Ford drilling in 2010, commission figures show.

This year, the commission had issued more than 1,200 through June. Only 94 permits were issued in 2009, Porter said.

Read the full news article at caller.com

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Kenneth E. DuBose

Kenneth E. DuBose

Kenneth DuBose is the past President of Cheyenne Minerals Inc., an independent oil and gas operator. He began his energy industry career with ARCO Oil & Gas. Mr. DuBose then directed development of natural gas storage projects with Tejas Power Corp. He was a founding member of U.S. Minerals, (acquired by Torch Energy in 1999) a provider of internet based education for America’s mineral owners. Mr. DuBose holds a BS in Petroleum Engineering from Mississippi State University. He has served on various industry steering committees, non-profit boards, and is an active member of the Society of Petroleum Engineers, the National Association of Royalty Owners, the American Association of Professional Landmen, as well as being a Registered Investment Advisor. He writes on topics of oil and gas investing, wealth management and personal finance, having appeared in the Wall Street Journal, Kiplinger’s, Kiplinger’s Personal Finance, Houston Business Journal, Financial Advisor and various radio and TV outlets.

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