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EAGLE FORD HELPING ECONOMY TAKE WING

by admin on March 14, 2011

SAN ANTONIO (San Antonio Express-News) – The Eagle Ford shale, an oil and gas region that spans 24 Texas counties, could become “the most important economic generator” South Texas has ever seen, reports the San Antonio Express-News.

According to a study by the Center for Community and Business Research at the University of Texas at San Antonio (with funding from America’s National Gas Alliance), the Eagle Ford could directly and indirectly account for almost $21.5 billion in economic output and support 68,000 full-time jobs in South Texas by 2020.

Since the first well was drilled, oil and gas drilling in the Eagle Ford has directly created about 6,800 full-time jobs in the area, paid $311 million in salaries and benefits to workers, and generated almost $2.1 billion in economic output. That doesn’t include “spin-off” jobs, which bump the numbers to 12,600 jobs, $512 million in salaries and $2.9 billion in economic output.

The Eagle Ford shale underlies a region stretching from northeast of San Antonio to Laredo and Webb County.

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