(Dec. 16, 2013) -- Development of oil and natural gas in a 16-county region of West Texas added more than $14.5 billion in total economic impact during 2012, according to a study released today by the Center for Community and Business Research in The University of Texas at San Antonio Institute for Economic Development. Additionally, the region supported 21,450 full-time jobs for workers in oil and gas, drilling, support operations, pipeline construction, refineries and petrochemicals.
Highlights of the UTSA study concluded that in 2012 the region generated:
The UTSA Center for Community and Business Research was contracted by the West Texas Energy Consortium (WTxEC) to estimate the economic impact of the oil and gas industry on certain counties in the consortium's area during 2012, and create a forecast for the year 2022. The consortium's area consists of the Concho Valley, West Central Texas and Permian Basin regions.
The region has a long history of oil and gas activity and, in recent years, has been affected not only by renewed attention in vertical wells but also new techniques such as horizontal drilling coupled with hydraulic fracture stimulation. The study estimates that nearly 854 vertical wells and 57 horizontal wells (including 12 directional wells) were completed in 2012.
"This baseline study is intended to help communities in West Texas plan and prepare for the prospect for increased oil and gas production in the area down the line. For many counties, activity is clearly in the early stages," said Thomas Tunstall, research director at the UTSA Institute for Economic Development and principal investigator for the study.
While taking into consideration low and high-price scenarios, the impact in 2022 could vary widely. But, UTSA estimates growth in full-time jobs supported by the oil and gas industry could potentially increase by 42.2 percent from 2012 to 2022. This study estimates a scenario where low oil prices in the future could produce an output as low as $7.6 billion, and where high oil prices could see enormous growth as high as $34.3 billion.
The ranges of these figures are broad due to high variability in the prices of oil and gas, the challenges of forecasting future oil and gas activities, changes in the number of wells per rig and changes in productivity per well.
The 16-county area researched encompassed various shales including the Cline Shale, a 70-mile wide by 140-mile long formation that stretches along 14 counties in West Texas. The formation produces natural gas, condensate, oil, and natural gas liquids, with margins more favorable than other shale plays.
The Center for Community and Business Research in the UTSA Institute for Economic Development conducts primary research on community and business development in South Texas and the border region. In addition to the study released today, the center has published Economic Impact of the Eagle Ford Shale (March 2013), Economic Impact of the Eagle Ford Shale (May 2012), Strategic Housing Analysis (July 2012, in partnership with the UTSA College of Architecture and UTSA Center for Urban and Regional Planning Research), Eagle Ford Shale Impact for Counties with Active Drilling (October 2012) and its Workforce Analysis for the Eagle Ford Shale (October 2012).
About the IED
The University of Texas at San Antonio (UTSA) Institute for Economic Development is dedicated to creating jobs, growing businesses and fostering economic development. Its 12 centers and programs provide professional business advising, technical training, research, and strategic planning for entrepreneurs, business owners and community leaders. Its programs serve San Antonio, the Texas-Mexico border area as well as regional, national and international stakeholders. Together with federal, state and local governments, and private businesses, the UTSA Institute for Economic Development fosters economic and community development in support of UTSA's community engagement mission.
The University of Texas at San Antonio (UTSA) is an emerging Tier One research institution specializing in health, energy, security, sustainability, and human and social development. With nearly 29,000 students, it is the largest university in the San Antonio metropolitan region. UTSA advances knowledge through research and discovery, teaching and learning, community engagement and public service. The university embraces multicultural traditions and serves as a center for intellectual and creative resources as well as a catalyst for socioeconomic development and the commercialization of intellectual property -- for Texas, the nation and the world.
The UTSA Department of Physics and Astronomy's Curtis Vaughan Observatory will offer free stargazing for the public beginning on top of the 4th floor of the Flawn Science Building. Experienced astronomers will be on hand to show a variety of astronomical objects and answer any questions. This event is free and open to the public, so feel free to invite friends and family.
Curtis Vaughan Observatory
This year's keynote speaker is Donalyn Miller, author of The Book Whisper. The event will feature breakout sessions and a presentation by the Creative Writers from North East School of the Arts. The event is free and open to all teachers from Pre-K through university level. Attendees can earn a certificate for 3 hours of Professional Development Credit.
Riklin Auditorium (FS1.406), Downtown Campus
The UTSA community is invited to attend the 3rd annual Rowdy Gras celebration! This year Rowdy Gras includes a daytime event from 11 a.m. -1 p.m. with a free food tasting and music on the UC Paseo. The main event takes place from 6 - 9 p.m. in the UC Lawn. The event includes free food, live jazz music, activities and giveaways.
University Center Paseo & Lawn, UTSA Main Campus
The UTSA College of Architecture, Construction and Planning’s 2015-16 Speaker Series continues with Dana Cuff, Ph.D., a professor of architecture and urbanism at the University of California, Los Angeles. In her talk, Cuff will discuss new forms of “studio” and new types of practices. Free and open to the public.
Aula Canaria Lecture Hall (BV 1.328), UTSA Downtown Campus
The UTSA Institute of Texan Cultures invites Texas and Texans to the Asian Festival. What began as a traditional family reunion for the Chinese New Year has expanded to include other Asian communities and participants, showcasing their unique culture and traditions.
The UTSA Institute of Texan Cultures
Join the UTSA Department of Interdisciplinary Learning and Teaching in celebrating interdisciplinary inquiry at the 2016 Interdisciplinary Studies Colloquium. The colloquium will include a panel of faculty and recent doctoral graduate and a showcase of the best IDS undergraduate inquiry projects of the year 2015. The event is free and open to the public.
Business Building (BB 2.06.04), UTSA Main Campus
The UTSA College of Public Policy presents the Dean's Distinguished Lecture Series featuring Dr. Iris Carlton-LaNey, Professor of the School of Social Work at the University of North Carolina-Chapel Hill. Dr. Iris Carlton LaNey will speak to the UTSA community about the role and impact of African-Americans in the social work profession.
Buena Vista Theater (BV 1.326), Downtown Campus
Please join us for a presentation and book signing by Luis Carlos Montalván (Fmr. Capt., USA), author of the New York Times Bestseller Until Tuesday and the international award-winning childrens book Tuesday Tucks Me In. His books will be available for purchase at the UTSA Bookstore. This event is free and open to the public.
Southwest Room (DB 1.124), Downtown Campus
The 12th Annual Black Heritage Gala is a formal event which includes a student performance, keynote remarks by Michael Brown, an award presentation, dinner and dancing. Tickets are $10 for UTSA students and $15 for all other guests. Tickets are on sale now at Roadrunner Express. Contact (210) 458-4770 for more information.
H-E-B University Center Ballroom, Main Campus
The UTSA Institute of Texan Cultures will host a free workshop focusing on teaching Latin American culture and geography for students seeking their teacher certification. The workshop includes free resources for teaching Latin American subject matter as well as presentations on language, identity, music, geography, and political and developmental history, and a special educators’ tour of the museum’s Los Tejanos exhibit. Free with registration.
The UTSA Institute of Texan Cultures (ITC 3.01.02)
Faithful Alabi holds the Raw Teen III American deadlift record
2015 was a significant year for UTSA. As the university moved forward on the road to Tier One research, designations and recruitment of high caliber faculty and students, it also completed its first ever capital campaign. Read about UTSA's accomplishments in the 2015 Year in Review as we look forward to what the next year will bring.
The University of Texas at San Antonio is dedicated to the advancement of knowledge through research and discovery, teaching and learning, community engagement and public service. As an institution of access and excellence, UTSA embraces multicultural traditions and serves as a center for intellectual and creative resources as well as a catalyst for socioeconomic development and the commercialization of intellectual property - for Texas, the nation and the world.
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