Eagle Ford to generate $89bn/year for south Texas by 2022 – study

26 March 2013 22:37  [Source: ICIS news]

HOUSTON (ICIS)--The Eagle Ford shale play in southern Texas added more than $61bn (€48bn) in economic impact for 2012 and that number should reach $89bn by 2022, a university study said on Tuesday.

In 2012, developments in Eagle Ford also established 116,000 full-time jobs, and should generate 127,000 jobs by 2022, according to a study by the Center for Community and Business Research at the The University of Texas at San Antonio (UTSA) Institute for Economic Development.

The study, which focused on the region’s 14 oil and natural gas producing counties as well as six surrounding counties, reflects a major surge in activity related to Eagle Ford in 2012.

“In 2008, we saw very little activity in the Eagle Ford shale. Today, it has become one of the most significant oil and gas plays in the country and has generated a tremendous amount of wealth for Texas,” said Thomas Tunstall, director of the UTSA Center for Business and Community Research and the study’s principal investigator.

“Over the next 10 years, the annual revenue generated and jobs created will continue the steady progress upward, helping to ensure environmental and economic goals can be realised together. The goal is to create sustainable growth for the region.”

($1 = €0.78)

Follow Anna on Twitter

By: Anna Matherne

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly