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

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(May 9, 2012) -- 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.

"We view the Eagle Ford activity as an economic opportunity of a lifetime," said Mario Hernandez, president of the San Antonio Economic Development Foundation. "The key goal is the increase in investment and jobs. And if the communities will partner with the private companies that are creating these jobs, it can be a win-win for everybody."

The increased revenue from the Eagle Ford Shale is rebuilding local communities. New schools and new hospitals are being built, and new training programs have been launched to maximize hiring from the local workforce. The study projects the creation of approximately 117,000 full-time jobs by 2021.

"The residents and local leadership of South Texas have taken a proactive and collaborative approach to this new economic opportunity, which we hope demonstrates how communities can embrace, invest and manage this new influx of revenues to ensure long-term regional prosperity," said Leodoro Martinez, executive director for the Middle Rio Grande Development Council and Chairman of the Eagle Ford Consortium."

"Through the Eagle Ford Consortium, Eagle Ford Task Force and other community-industry collaborations, Eagle Ford leaders and residents are working together to develop training programs, enhance local employment opportunities and forge solutions to community issues that maximize the benefits and manage the effects from increased development activity.

The Eagle Ford Shale is a 50-mile-wide by 400-mile-long formation that runs from the southern portion of Texas to the east. The formation produces natural gas, condensate, oil and natural gas liquids with margins more favorable than other shale plays. The study assessed the economic impact of the Eagle Ford Shale on the 14 counties currently producing oil and natural gas from the formation, as well as the six surrounding counties indirectly involved in its development.

The UTSA Institute for Economic Development Center for Community and Business Research conducts primary research on community and business development in South Texas and the Border Region. For more information, visit the IED Center for Community and Business Research website.

>> Download UTSA's Eagle Ford Shale study.

 

 

Did You Know?

Football standouts make Roadrunner history

For Ashaad Mabry and Triston Wade, football is not just a passing fancy. Both players were part of the UTSA football program almost from the beginning. When UTSA opens the 2015 season Thursday at Arizona, it will be the first time the Roadrunners take the field without them. But Mabry and Wade will still be playing football; their uniforms will just be a different color.

Mabry, a defensive tackle from San Antonio's MacArthur High School, was an honorable mention All-Conference USA selection his final two seasons as a Roadrunner and second among the team's defensive linemen with 49 tackles last year. Wade, a defensive back from Tyler, was the most decorated player in school history. He was a semifinalist for the 2014 Jim Thorpe Award – for the nation's top defensive back – a three-time all-conference honoree and two-year team captain who set a school record of 293 tackles in his career. Both men had outstanding college careers that allowed them to make UTSA history.

Did you know? Mabry and Wade both agreed to terms as undrafted free agents with the New Orleans Saints and Seattle Seahawks, respectively, becoming the first UTSA players to move to the professional ranks.

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