The University of Texas at San Antonio released a report describing the Economic Impact of the Eagle Ford Shale.
The study describes the same boom-time problems in the Eagle Ford field as exist in the Bakken area – restaurants struggling to hire enough staff to stay open, hotels fully booked, RV parks going up everywhere, and a crush of school children arriving for classes whose parents are living in an RV & not paying property taxes to fund the schools.
The report describes in detail that production increased dramatically from 2010 to 2011. It makes projections for 10 years out. Here are some stats from the report for 2011 production compared to 2010:
• Oil production increased by more than six times…
• Gas production more than doubled…
• Condensate production tripled…
Total jobs from the Eagle Ford Shale in 2011 over a 20-county region are 47,097 full-time jobs in these areas:
- 23,409 – drilling and completion
- 6,062 – extraction
- 7,369 – pipeline construction
- 463 – refinery operations
- 570 – land lease, royalties, right of way payments
- 127 – construction
- Headquarters, refining construction and renovation in the neighboring 6 counties:
- 4,290 – Bexar county
- 3,880 –Nueces county
- 926 – four other counties
What’s the number of projected jobs in 2021?
The study provides projections for production in 2021, ten years from the baseline of 2011. The estimates are in three ranges, a low estimate, moderate, and high.
The moderate range projections for the year of 2021 are :
- Gas 864.9 billion cubic feet
- Casinghead – 121 billion cubic feet
- Oil 168.9 million barrels
- Condensate – 125.8 million barrels
Compared to 2011 production that’s an increase of 3.1x for gas, 6x for oil and 6x for condensate in the next 10 years.
Hat tip –Carpe Diem, of course.