Breakeven oil prices needed in the Eagle Ford can range quite a bit by operator and by acreage, but we know the price need is much lower than where oil trades today. There are more rigs actively targeting the play than any other oil and gas development in the world. [Read more…]
Oilfield job creation is outpacing expectations in Bexar County. An economist at UTSA expected 4,000 direct jobs in San Antonio by 2020 and is revising his number UP to 6,000. The industry is going to reshape the economic climate in South Texas. Don’t forget that San Antonio doesn’t sit atop the Eagle Ford either. The number of jobs created across the shale play will be multiples of the Bexar County (San Antonio) number
Check out available positions at the Eagle Ford Shale Jobs Board.
UTSA Senior Economist Javier Oyakawa, the author of the widely quoted Eagle Ford Shale economic-impact study, says he expects the oil and gas play to create at least 6,000 jobs here by 2020 rather than the originally forecasted 3,900.
“From what we’ve seen so far, it’s time to rethink our numbers,” he says. “Several companies are going to be opening offices here”
Read the entire article at bizjournals.com
At the San Antonio oil & gas conference, Texas RRC’s Elizabeth Ames Jones touted the Eagle Ford’s contribution to the economy and Texas. She reported the Texas Rainy Day Fund will get a deposit of $1.1 billion dollars in November. The bulk of the money comes from oil & gas revenue. That’s a good boost to state coffers.
She also made a political plea for the federal government to stay hands off when it comes to oil & gas activity and hydraulic fracturing. [Read more…]
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. [Read more…]
Companies with Eagle Ford exposure may prove to be good investments as the overall economy recovers. The economics of the play look promising, which in turn means companies will benefit from a better worldwide economy or in industry terms “better oil and gas demand”. A few companies with Bakken and Eagle Ford assets are detailed below. [Read more…]
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. [Read more…]