Businesses in South Texas all stand to be impacted by the Eagle Ford Shale. Many predict the development of the play will have the largest economic impact of any event in Texas history. This year alone, oil & gas development is expected to add $13.9 billion in direct impact and that number might grow closer to $50 billion by 2020.
If you haven’t already, you need to consider how your business will evolve with the Eagle Ford.
…It (Eagle Ford Shale) is having a major impact on small business opportunities in and around the 24 counties that sit atop the formation. The total impact is expected to be $13.9 billion this year and increase to $48 billion in 2020. By comparison, the annual GDP of the three county Corpus Christi metropolitan area is about $15 billion. Recovery of oil and gas from tight shale became possible about five years ago with the development of horizontal drilling and fracturing technology. Fracturing of the rock holding the oil and gas with high pressure water and sand releases it to flow to the surface. The Eagle Ford formation is about 50 miles wide and 400 miles long running roughly Northeast from Laredo.
Eagle Ford is expected to be the greatest single economic boom in Texas history. You need to figure out how your business can participate.
Read the full news release at caller.com