Industry Spotlight ENERGY
jobs to the community.
The notable increase in business activity
also benefits local schools and municipalities,
and provides economic advantages that trickle
down to positively affect the entire regional
economy.
“Exploration companies buy goods and
services from area businesses, which in turn
also buy from local firms,” said economist Dr.
Ray Perryman, president and CEO of The
Perryman Group, who, in August 2011,
released a report focusing on the economic
impact of the Barnett Shale. “Workers at these
companies go out and spend their salaries on
houses, cars, clothing, restaurant meals and so
on. Our impact studies clearly show positive
effects in every industrial sector.”
Perryman also said the Barnett Shale
gas-drilling boom has had a cumulative
economic impact of $65.4 billion in North
Texas since 2001. He estimated the 2011 total
EXHIBIT 5-9
CHAPTER FIVE
regional effect of Barnett Shale activity
includes an estimated $11.1 billion in annual
output, with a $731 million tax revenue benefit
for the region. And with the amount of natural
gas still to be produced in the Barnett Shale,
the long-term economic benefits to the North
Texas area are expected to continue, especially
as the economy gains momentum
over the next couple of years.
The Fort Worth Chamber of Commerce
has The Perryman Group report on its
website; entitled “A Decade of Drilling,” it can
be viewed at www.fortworthchamber.com/
BarnettShaleStudy11.pdf. The Barnett Shale
Energy Education Council (BSEEC) is a
community resource that provides
information and continued updates about
gas drilling and production within the
Barnett Shale region of North Texas. To
learn more about the Barnett Shale, visit
their site at www.bseec.org. z
Natural Gas
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The U.S. also imports significant quantities of natis investing in new technology
ural gas — more than 4.2 power from
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right here, right now in Texas.
Operating Oil andand Natural Wells
Operating Oil Natural Gas
Gasin the in the Barnett Shale
Wells Barnett Shale
Our Economic Development
Exhibit 5-11 summarizes the natural gas indusgroup is the catalyst for economic
try’s production, transmission and distribution
growth and effective utilization of
infrastructure through business
system.
recruitment, retention and valued
community services.
00 miles of
pelines deliver
to every corner of
ng with 87,000
astate pipelines.
Drilling Permits
Producing Wells
Both Oil and Gas Producing Wells
Produced by Texas Railroad Commission
Source: Railroad Commission of Texas.
40 North Texas Magazine
Storage and Disposal knowledge
We have firsthand
Large, commercial volumeshelpnatural gas are
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usually stored in underground rock formations
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tank facilities. In 2007, Texas had 35
thinkbigthinktexas.comdepleted reservoirs
natural gas storage sites—20 in
around the state and 15 in underground salt caverns
along its coast (Exhibit 5-12). In all, Texas’ natural
gas storage capacity was 683.5 billion cubic feet in
August 2007, placing the state fourth in the nation
behind Michigan, Illinois and Pennsylvania.36
Texas’s natural gas storage facilities allow the state
to store its natural gas production during the summer months, when national demand typically is
lower, and then ramp up delivery quickly during
www.ntc-dfw.org
the winter months, when markets across the coun-