Alive and Kicking

News outlets in North Texas have taken note of a new report by economist Ray Perryman that details the impressive sustained economic impact of the Barnett Shale.
 
While some may have considered the Barnett Shale old news, the Perryman report (commissioned by the Fort Worth Chamber of Commerce) makes it clear that "even with the recession and the drop in natural gas prices, natural gas production and job levels have remained stable and provide ongoing benefits to the economy."  

The Star-Telegram quoted Perryman, who explained that "the Barnett Shale is still a big thing" in North Texas and added that "it is a very, very important industry" that is "having a huge impact” on our area. 
 
How huge? “Oil and gas drilling in the Barnett Shale contributes $11.8 billion annually to the North Texas economy” according to the study. This figure is "up from an annual rate of $11.1 billion in 2011." Also, the study found that "drilling adds $480.6 million in taxes to local cities, counties and school districts."
 
Though drilling activity has declined in some areas, “Perryman says output has partly increased with infrastructure investment and advances in drilling.” The impact of the Barnett Shale is "significant even within the context of the large Metroplex economy" and has been a key economic driver for North Texas in recent years.

While economic situations have changed in recent years and other shale formations have ramped up production, the Barnett Shale has remained a stalwart of the North Texas economy. We are all the beneficiaries of this economic engine that continues to grow our economy year after year!


 The full study is available via the Fort Worth Chamber of Commerce:

http://www.fortworthchamber.com/chamber/docs/BSISeptember2014.pdf

Also, you can read more on the Perryman study at the Barnett Shale Energy Education Council website:

New Economic Study from The Perryman Group Proves Barnett Shale is Thriving

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