The latest report from UTSA that measures the impact of the Eagle Ford in South Texas includes impressive numbers. Tom Tunstall’s group has done a great job keeping us up to date on the magnitude of the South Texas oil and gas boom.
“It is our hope that this research helps state and local officials make informed decisions as the economic growth of this region continues to expand,” said Bob McKinley, UTSA associate vice president for economic development.
The full report is 76 pages and can be accessed HERE.
Highlights include the following:
- Eagle Ford Shale Ranks as the largest oil & gas development in the world based on capital expenses
- $61 billion economic impact in the 20 county area affected by the play
- 116,000 jobs supported by the play with $4.69 billion paid in salaries
- $1.01 billion paid to local governments in 2012
- $1.24 billion paid to the state government in 2012
- $72 million paid to landowners for leases in 2012
- Estimated $3 billion was paid in the form of royalties to landowners
- Anadarko led the number of gas wells and EOG led the number of oil wells drilled in 2012
- In 2022, the economic impact is estimated at $89 billion and
- 127,000 jobs will be supported in the area in ten years
For our regular readers, it’s no surprise. The Eagle Ford is blessing South Texas with an economic impact no one ever imagined.
Share your thoughts on the study in the comment section below.