Posted: May 14, 2013 6:14 PM by Morgan Frances - MFrances@kristv.com
Updated: May 14, 2013 6:56 PM
CORPUS CHRISTI - Oil industry representatives and representatives from the University of Texas-San Antonio gave some impressive figures on how the Eagle Ford Shale boom is impacting our local economy. The presentation at the Ortiz Center revealed the impact is huge with figures on how the boom will impact job growth in Nueces County over the next decade.
The total revenue Eagle Ford Shale brought Nueces County in 2012 was $8.5 billion. In 2022, experts project that number will climb to $19.8 billion. In terms of jobs, the Eagle Ford Shale has brought a total of 6,699 jobs to Nueces County to date. The study shows that number of jobs should almost double to 11,500 in 2022.
So, what does this all mean for the "little guy?" The oil and gas boom has impacted businesses big or small in everything from refinery to construction jobs here in Nueces County.
Thomas Tunstall, Director at UTSA, said, "I think we were surprised to see the impact in Nueces County, for example."
The job growth numbers across South Texas are driven by businesses directly involved in oil and gas production and some that aren't. While many big companies (like refineries and drilling companies) contribute to the job growth so do smaller oil and gas companies like Production Equipment Company of South Texas.
"The demand has increased quite a bit since the Eagle Ford Shale has started," said Ray Perez, Manager at Production Equipment Company of South Texas. "There's a lot more companies that are drilling wells out there and the demand for equipment such as ours has increased."
Production equipment re-manufactures wellheads that regulate the oil and gas coming out of the ground. Perez says, although they're a smaller business, they've seen a huge sales increase as well as a personnel increase.
"It's increased our business by probably 30-40 percent." Perez said. "It's increased our head count by as much as probably six people."
With an employment projection of 19,400 jobs, the top employment opportunities for 2022 will be dominated by extraction of oil and natural gas. In Nueces County alone experts estimate the Eagle Ford Shale boom will bring in $19.8 billion by 2022. In today's economy, however, even the little guy hiring six more workers makes a difference in terms of numbers.
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