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EAGLE FORD SHALE GENERATES $3 BILLION FOR SOUTH TEXAS

by admin on February 28, 2011

Eagle Ford Shale generates $3 billion For South Texas
The Eagle Ford Shale geologic formation generated $3 billion in revenue for South Texas oil producers and local governments in 2010, according to a new study released Thursday by the Center for Community and Business Research at University of Texas at San Antonio’s Institute for Economic Development.
“The Eagle Ford Shale may be one of the largest onshore natural gas and oil discoveries in the past half century,” says Dominique Halaby, the center’s director. “In 2010 alone, this newest of the Texas shale plays generated close to $2.9 billion in revenue, supported approximately 12,600 full-time jobs in the area, and provided nearly $47.6 million in local government revenue.”

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