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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Eagle Ford Shale makes San Antonio’s top stories – 2011

Weatherford, 1-11-12

If it’s been awhile since you’ve driven along I-37 south of Loop 410 you may be surprised to see large buildings rising out of the ground and huge earth-moving equipment clearing the way for more.  As reported earlier, the Eagle Ford Shale play is bringing oilfield services jobs to San Antonio and South Texas.  Companies such as Halliburton, Weatherford and Baker Hughes have purchased large tracts of land in the southeast sector and are in the process of building operations centers.
 

Baker Hughes, 1-11-12

The Eagle Ford Shale was ranked the second most important story in the San Antonio area in 2011 (according to the San Antonio Express-News). 

After decades in the doldrums, theSouth Texas economy is being stoked by drilling in the Eagle Ford Shale, one of the hottest oil and gas plays in the country.

Drilling permits in the region jumped from 26 in 2008 to 3,131 by early December, according to Texas Railroad Commission data.

Site work at Halliburton site, 1-11-12

Housing shortages, traffic jams and jobs begging for workers are now common in many formerly dead-end towns. Some landowners also are cashing huge lease and royalty checks. Property tax, sales tax and hotel-motel tax revenues are rising, filling counties’ coffers.

San Antonio, too, is benefiting. Blue-chip oil field services companies, such as Halliburton Co., Baker Hughes Inc. and Weatherford International, are moving in.

The shale play has brought 5,000 jobs toSan Antonio, and likely will bring twice that many within three years.

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