Right here in America there is a modern day oil & gas boom. The Eagle Ford Shale (EFS) is quite possibly the largest single economic development in the history of the state of Texas. The play had more than a $25 billion dollar impact on the local South Texas economy in 2011.
Showing posts with label Oil Expansion. Show all posts
Showing posts with label Oil Expansion. Show all posts

Thursday, August 11, 2011

Eagle Ford Shale causing boomtown today, sin city tomorrow?


CARRIZO SPRINGS — In the year since the Eagle Ford Shale boom burst upon South Texas — bringing hordes of oil field workers, convoys of heavy equipment and a tidal wave of investment money — small town life has turned topsy-turvy.
Here and elsewhere, traffic has become unbearable, restaurants are impossibly crowded, grocery stores regularly run out of meat and beer, electrical brownouts come and go, and prices for everything have skyrocketed.
“The whole world is changing here. This little community was deader than hell, but now that we have all these people coming in, we’re changing, things are happening,” said Eloy Rodriguez, the Dimmit County code compliance officer.
A quiet community of 5,700 residents tucked away in the brush country about two hours southwest of San Antonio, Carrizo Springs was completely unprepared for the dramatic economic and social changes now buffeting it.
Much of it is welcome. But while the county tax base and sales tax revenue are both doubling, and there are oil field jobs aplenty, the flip side is seen in the $1,200 two-bedroom rental house that a year ago went for $250, causing some locals to be shoved out.
And, as everyone learned this summer, there can be an unsavory side to an oil boom.
Source: Fuel Fix 

Tuesday, August 9, 2011

Gulfmark Energy to spud 1st Eagle Ford well


Gulfmark Energy reported its wholly owned subsidiary, Gulfmark Resources, Inc., has filed for drilling permits with the Texas Railroad Commission and intends to drill its initial test well on its 4,261 acre Kiefer Lease in Zavala County, Texas, upon permit approval. The Kiefer lease is situated in the northwestern portion of the oil window of the Eagleford Shale trend of South Texas.
Gulfmark intends to drill vertically through the Escondido, Olmos, San Miguel, Austin Chalk and Eagleford Shale formations and will evaluate results by open hole logs and core samples. The Company's primary objective is to penetrate the Eagleford Shale and plans to drill horizontally approximately 3,000 to 4,000 feet upon reaching this prolific shale play.
Michael Ward, President and CEO, stated, "With recent discoveries within the Eagleford Shale formation, we are very excited to begin our development drilling program and increase our shareholder value. With success through the drill bit, we hope to expand our horizons and fully exploit the resources that lie within our leasehold."

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