According to a recent study conducted by the University of Texas – San Antonio, the South Texas Oil Boom could have an economic impact that reaches into the billions. The Cline Shale and Eagleford regions will be a significant part of the estimated $20 billion economic boon to South Texas that will also add more than 30,000 jobs over the next decade.
UT-San Antonio’s study estimate the overall impact of the Permian Basin, the Cline Shale region, Wolfberry, Sprayberry, and Wolfcamp, focusing on the 10 counties expected to experience the most economic impact, including: Regan County, Nolan County, Fisher County, Glasscock County, Howard County, Irion County, Scurry County, Mitchell County, Sterling County, and Martin County.
Early estimates from the UTSA about the Cline Shale region’s recoverable reserves came in at around 30 billion barrels of oil. The South Texas Oil Boom could end up being the biggest oil boom in the history of the U.S. oil industry.
Even though the Cline Shale region is a smaller area than Eagleford, the density of hydrocarbons in the area is making it one of the most significant oil and gas opportunities in all of Texas – with possibly bigger reserves than Eagle Ford and the Bakken Shale combined.
With the United States poised on the verge of energy independence, combined with the changing climate in Washington after mid-term elections, the Cline Shale is set to be a true turning point for the American Oil Boom.
