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Ex, I would rather see an oil field than another Section 8 housing project. At least an oil field produces more than more welfare rats.
If the Barnett shale in North Texas is a guide, this will mean a very large number of good jobs for our Eagle Ford area.
“The Barnett Shale, which is the oldest and largest, has generated an estimated 100,000 new jobs throughout much of north Texas, and that number is expected to continue growing. The jobs fall in a wide variety of career fields, such as engineers in all disciplines, geologists, accountants, truck drivers, field workers, administrative staff, welders, landmen, mechanics and equipment operators, to name a few,” said Ed Ireland, PhD, executive director, Barnett Shale Energy Education Council."
that's great news for this area!
ex...I'm glad to see as many people bake a buck as possible. I'm even more pleased that there will be a large bump in the domestic suppley of oil and gas. Oil fields aren't all that unattractive when compared with being able to -- in some years -- decrease our import of oil.
EOG has tried to keep this oil play a secret for some time while it went about leasing land in the area. This announcement bodes well for those who held out for better terms. In the Barnett shale, lease bonuses got up to $28,000/acre with 25% royalty standard. We will see even better deals made in this play, as it is much more productive. It's gonna mean a lot of high paying jobs for our area.