Another Side to Eagle Ford Boom
By Dave Fehling, StateImpact Texas
Why the Texas economy is doing better than most? You can thank some of the rural counties south of San Antonio. That’s where an enormous amount of oil is now being produced. It means new jobs and more tax revenue. But it’s all happening very quickly. StateImpact reporter Dave Fehling takes a look at the Eagle Ford boom.
The Eagle Ford shale is an underground rock formation in South Texas. In just the last couple of years, drilling in to the formation has been going crazy. As much oil is being produced here each day as was produced in all of 2009. That has meant the state is collecting a lot more in taxes levied on oil production — more than $2 billion in the last year. One of the most productive areas is just south of San Antonio.