Report: Eagle Ford worth $25 billion to South Texas

50,000 full-time jobs created; 350,000 barrels produced daily

Published On: Mar 12 2013 04:16:47 PM CDT   Updated On: Mar 12 2013 04:36:17 PM CDT
SAN ANTONIO -

Created in 2011 as the boom was taking off, the Eagle Ford Shale Task Force estimates oil and gas production has pumped $25 billion into the South Texas economy.

Texas Railroad Commissioner David Porter said Tuesday at an Austin news conference that 50,000 full time jobs were created, producing 350,000 barrels daily.

However, Porter said with prosperity, come pending issues, like workforce training and development, road quality, water usage and air quality.

The Task Force report is loaded with facts and figures, and it’s meant as a resource for local and state agencies as well as the Legislature as they tackle each issue.

“Everyone is watching to see what happens in the Eagle Ford Shale, so it’s important we, as Texans, get this one right,” says Texas Comptroller Susan Combs.

A top priority is paying for roads torn up by Eagle Ford trucks by dipping into the state’s share of the boom, which right now sits at $88 billion and counting.

“A one-time infusion of funds from the Rainy Day Fund to invest back in the infrastructure in the Eagle Ford Shale,” said Sen. Carlos Uresti regarding his bill, which still needs to go before lawmakers in Austin.

The report predicts Texas will help the U.S. surpass Russia and Saudi Arabia in production by 2020, and in doing so, may become energy independent by 2035.

To read the full report, click here (PDF).