This may not be news to some, but for the last few months, they've been busy drilling the Eagle Ford shale formation, which lies SW/S/SE/E/NE of SA.
http://media.mysanantonio.com/images...ale-101410.jpg
While most of these counties are outside the "metro" area, the boom along the 35/37 or 181 corridors will be felt in SA. It'll be interesting to see the effect in the upcoming years that this has in these counties and cities to our south.
The EN (I guess) has just caught wind of this and posted multiple stories of the activity, with those catchy headlines we just love.
Shale now is as good as gold
Chinese investment will boost South Texas drilling
China makes move into Texas oil
China stakes claim to S. Texas oil, gas
Shale now is as good as gold
By Jennifer Hiller - Express-News
Web Posted: 10/14/2010 12:00 AM CDT
Quote:
The boom is back, at least in the rural South Texas counties that sit atop the Eagle Ford shale formation.
Oil companies searching for drilling rights are creating instant millionaires of some property owners — at least the ones who own the rights to what lies below the surface of land previously prized for deer hunting.
Those who own mineral rights are receiving bonuses as high as $1,000 to $4,000 an acre for the right to drill, in many cases outpacing the surface value of the land.
And that doesn't count the royalties that could roll in as production, which is in the early stages, increases.
Chesapeake Energy Corp. started calling Derry Gardner in March of 2009 with a bonus offer of $350 an acre for his La Salle County land. He finally signed with the company in February, receiving $1,700 an acre for his 200 acres.
Read more....
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