Eagle Ford Tax Revenues Boosting the Texas Rainy Day Fund

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…]

U.S. Oil Production Growth Expectations Continue To Rise

U.S. oil production is expected to rise more than 2 million barrels per day by 2015. That’s from a new report written by Bentek that was released after the National Petroleum Council’s Production Report last week. The bulk of production will be added by the Bakken, Eagle Ford, and other plays in West Texas. IHS predicts that same oil growth could fuel the addition of 1.3 million jobs and add $97 billion in tax revenues.

I think it’s safe to say all three, production, jobs, and tax revenues, should be welcomed during this economic climate. [Read more…]

Gonzales County Schools Benefit from the Eagle Ford Shale

Gonzales ISD is getting ready for boon in property and sales tax revenues from the boom of Eagle Ford Shale Drilling. The state is making cuts across the board and the education system is being hit hard this time around. Gonzales County, TX, is shielded from the remains of a recession and is benefiting from the Eagle Ford oil boom. Oil and gas development brings jobs, investment, and much needed tax revenues.  [Read more…]

Alice TX Oil Boom Adds Jobs and Sale Tax Revenue

Alice, TX is just the latest town in a series of many that are reporting on the oil boom in South Texas. The Eagle Ford Shale has filled hotels for what will likely be many years to come. Sales tax revenue is up almost across the board and the great thing is activity should continue to grow over the coming months. If oil prices hold, this is the beginning of long-term oil and gas development. [Read more…]