Eagle Ford Bank Deposits Setting the Pace in Texas

Bank deposits in South Texas are benefitting from a growing population of skilled workers who have higher paid oil & gas jobs and mineral owners who are reaping the benefits of new found royalties. Bank deposits grew a little over 10% from 2008-2011 across Texas, but deposits in South Texas grew more than 15%.

While that’s impressive, I expect the gap will only widen in the next couple of years. Development activity just began hitting its stride in 2011. Royalties are trickling in, but there is much more to come. In many wells, there are dozens to hundreds of people cashing royalty checks once production starts.

Read the entire news release at bizjournals.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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