Eagle Ford Shale Update; Increase in rigs shows job increase

South Texas Energy and Economic roundtable President Omar Garcia says he hopes people understand the importance of the oil and gas industry to Victoria “What it means for jobs, for tax revenue and how the oil and gas industry affects our daily lives,” Garcia said. The STEER organization includes 18of the largest operators in the Eagle Ford Shale region. Garcia updated the Victoria Chamber of Commerce on the Eagle Ford Shale rig and job increase. “With the downturn we’ve experienced the last couple of years, activity is ramping, more jobs are being created, and rig counts are up. So we’re seeing much more activity throughout the Eagle Ford Shale and particularly in Victoria County. In December 2016, we had around 40 rigs and right now were at 80. So that’s a big jump that’s caused lots of activity, its caused companies to hire again, people have gone back to work. So you’re seeing more revenue generated locally. Small businesses are taking advantages of these opportunities. Business is going good with the rig count going from 40 to 80 in the last three and a half months,” Garcia said. STEER plans to continue to partner with the San Antonio Spurs to educate students about the job opportunity and growth in the oil and gas industry. “Companies had booths where they did teachable moments on different sectors of the oil and gas industry as these students walked the San Antonio Spurs basketball court. It was a unique experience for them to learn about the oil and gas industry and to visit the AT&T center,” Garcia said. STEER is currently doing an economic analysis with University of Texas San Antonio on what the oil and gas industry has impacted Victoria county from 2014 to 2016 in relation to growth and increased job opportunity. STEER will present the information this upcoming summer.
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