We're just a few years into development, but the Eagle Ford Shale is looking the part of the single largest economic boom in the history of the state of Texas. UTSA estimates total revenue from the Eagle Ford in 2011 was almost $14 billion and that revenue could grow to almost $50 billion by 2020. In addition to revenue, almost 30,000 jobs related to the play were created in 2011 alone.
Reserve estimates also paint a rosy picture. If there are 20 billion barrels of liquids to be recovered in the Eagle Ford, revenue from oil, condensate, and NGL sales will reach somewhere in the neigborhood of $1-2 TRILLION over the life of the play (at $100/bbl oil and current NGL prices). Add the 100+ tcf of gas that could be recovered and revenue from hydrocarbon sales could easily reach 2 trillion dollars. Our country's deficit is the only other topic where I use the word trillion.
For reference, the caller.com provided a few interesting statistics.
The Eagle Ford will have a larger impact than the entire Corpus Christi Metro Area in 2012.
- GDP for the area was $15 billion in 2011, compared to estimates of $14 billion in Eagle Ford revenue during that same time
Eagle Ford jobs are coming by the thousands.
- There area 184,000 jobs (total) in the Corpus Christi Metro Area and on its current path the Eagle Ford might created over 75,000 jobs in 2020 alone