There has been an estimated $7.5 billion in lease payments since 2007. Even if only 5% of this compensation is spent in the Eagle Ford counties, it brings $375 million into the local economy. In 2011, the shale play generated an expenditure of approximately $14.6 billion by oil and gas producers.
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June 12, 2012
Discovered in 2008, the Eagle Ford Shale play is one of the largest discoveries of new oil reserves in the United States since Prudhoe Bay, Alaska in 1968, and extends over 23 South Texas counties. Its southern edge begins at Laredo and trends northeast toward Austin producing natural gas. The northern edge, a formation 50 miles wide, produces oil and the central zone is rich in natural gas liquids…