NTX Magazine Volume 1 - Page 42

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 PUT THE POWER OF ONCOR TO WORK FOR YOU. We’re helping advance energy, create new jobs and support economic growth. The infrastructure of today won’t support the energy needs of our future. That’s why Oncor The U.S. also imports significant quantities of natis investing in new technology ural gas — more than 4.2 power from trillion cubic feet (Tcf) to deliver reliable in 2006. Canadiansources, including multiple pipeline imports represented renewable energy. It’s happening more than 85 percent of 2006 U.S. imports.35 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 and experience to of you take advantage of the lucrative Texas usually stored in underground rock formations business climate that is ideal for with an impermeable of all types and sizes. in salt companies cap, such as caverns domes or depleted oil and gas reservoirs, or in large abovegroundFor more information visit 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-