NTX Magazine Volume 2 - Page 50

Industry Spotlight Energy Energy Innovation As the originator of natural gas, North Texas launched a global energy revolution N orth Texas is a global leader in the energy industry. As the origin of some of the most influential technologies in the business and home to iconic tycoons, like H.L. Hunt, T. Boone Pickens and the fictional J.R. Ewing, North Texas runs deep in energy. But even with its long history, the region has made its biggest mark globally in the last decade – an industry revolution fueled by natural gas. Many consider North Texas the global birthplace for the natural gas revolution. It was in the fields of the Barnett Shale, a geological formation located around Fort Worth, where the combination of two existing technologies – hydraulic fracturing and horizontal drilling – made shale extraction possible. “The Barnett Shale is the uncontested grandfather of the shale gas revolution,” said Chris Faulkner, CEO of Breitling Royalties, a North Texas-based oil and gas acquisition firm. 48 NTX Magazine “It started the entire idea of shale gas that has now led to nearly every country on the planet looking for shale gas.” The Barnett Shale natural gas boom started in the early 2000s and peaked around 2008. Then, sinking natural gas prices and supply surpluses slowed production. Still, the Barnett Shale is currently among the top producing fields in the U.S. The energy industry in America benefited greatly from the Barnett Shale boom. It helped provide jobs and delivered www.ntc-dfw.org