The San Antonio commercial real estate market is already doing better than last year and one of the influencing factors is the increase in oil & gas industry activity from the Eagle Ford Shale. Chesapeake Energy opened an office recently and Baker Hughes plans a 400 person office southeast of the city. Those are two of the largest deals, but many more will follow as service companies and producers move closer to manage their South Texas Eagle Ford operations.
The Eagle Ford rig count in the 30 county area we watch was 227 rigs as of last Friday, August 19. As operators continue delineating their acreage, there’s no indication that will change dramatically in the near future. [Read more…]