A recent article from Dr. Ray Perryman of The Perryman Group in Waco, Texas, reported about unconventional oil- and natural gas-bearing formations and their benefit to the economy. Not only do they provide millions of jobs across the nation, they also provide the U.S. with a positive economic outlook for the future.

Specifically, the article reports about the Barnett Shale’s impact on the North Texas economy:

A new economic impact study of the fiscal contributions of the Barnett Shale was released today. The study, commissioned by the Fort Worth Chamber of Commerce and conducted by The Perryman Group (TPG) of Waco, reports that despite reduced drilling and fluctuating natural gas prices, Bartnett Shale production increased by $700 million since the last study was conducted in 2011.

The U.S. Energy Information Administration’s (EIA) latest Annual Energy Outlook has U.S. total natural gas consumption growing from the current 25.6 trillion cubic feet (Tcf) to 31.6 Tcf in 2040. According to the EIA graph, while all sectors show increases in consumption, except residential, the growth is driven primarily by electric power generation.

North Texans know a lot about tornadoes and golf ball-size hail storms, but when it comes to earthquakes, many Texans are experiencing them for the first time. Our first instinct is to ask what is causing them and what do we need to do to stop them. With oil and gas operations near the areas of the recent earthquakes near Eagle Mountain Lake, some have naturally turned to questioning whether these activities are somehow involved with oil and natural gas activities.

A study by the University of Texas at Austin Bureau of Economic Geology estimated that drilling and hydraulic fracturing in the Barnett Shale used 8.5 billion gallons of water in a 15-county region in 2011.

North Texans know a lot about tornadoes and golf ball-size hail storms, but when it comes to earthquakes, many Texans are experiencing them for the first time. Our first instinct is to ask what is causing them and what we need to do to stop them. 

The Barnett Shale Energy Education Council (BSEEC) and its website are entering their seventh year of operation. When drilling rigs started moving into the city of Fort Worth, the major of Fort Worth at the time, Mike Moncrief, suggested that the companies operating in the Barnett Shale should establish a community service organization to provide energy education to the public. A number of companies agreed and BSEEC started operations in 2007. 

The Barnett Shale Energy Education Council (BSEEC) is frequently asked about the status and future of the Barnett Shale. It has been questioned if the Barnett Shale is over and done with. After all, only about 25 drilling rigs are running now compared to the peak of about 200 rigs in mid-2008.

According to the recent Barnett Shale Gas Assessment Study conducted by the Bureau of Economic Geology (BEG) at The University of Texas at Austin, the Barnett Shale will still be producing natural gas for years to come – well beyond the year 2030. The study is funded by the Alfred P. Sloan Foundation and incorporates engineering, geology and economics in a numerical model.