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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 generated more than $25B in revenue for South Texas in 2011

Development of oil and natural gas in the Eagle Ford Shale contributed $25 billion in total economic output to the region in 2011, according to a study released today by the Center for Community and Business Research at The University of Texas at San Antonio Institute for Economic Development.

“The Eagle Ford Shale has proven to be one of the most important economic engines in the state,” said Thomas Tunstall, director of the UTSA Center for Community and Business Research and the study’s principal investigator. “In 2011 alone, the play generated over $25 billion in revenue, supported 47,000 full-time jobs in the area and provided $257 million in local government revenue.”

The study also concluded that in 2011 shale development:

  • Paid $3.1 billion in salaries and benefits to workers,
  • Provided more than $12.6 billion in gross regional product,
  • Added more than $358 million in state revenues including $120.4 million in severance taxes
  • And spurred a triple-digit sales tax revenue increase in various local counties.

Click to read full article Eagle Ford Shale generated more than $25B in revenue for South Texas in 2011 (UTSA Today, 5-9-12) and follow linkĀ at bottom to view full study report.

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