TAYO: Permian Basin on Pace for 2 Million Barrels a Day
September 04 2014 - 5:00AM
Business Wire
While Taylor Consulting Inc. (OTCBB: TAYO) continues cultivating
a strong portfolio of real estate assets in and around the nation’s
hottest oil and gas region, West Texas’ Permian Basin is on pace to
exceed two million barrels of oil per day as production continues
to increase.
One of Texas’ oldest oil fields, the Permian Basin is booming
again due to advanced new technologies including horizontal
drilling. Output from the Basin’s formations shows no signs of
slowing down, either: The Permian currently produces 1.7 million
barrels a day, outpacing fields such as South Texas’ Eagle Ford and
North Dakota’s Bakken. With more work already underway, it is all
but inevitable that the Permian will someday soon surpass two
million.
As a huge glut of workers flock to West Texas to drill new
wells, plot new pipelines and perform hundreds of other related
jobs, demand for real estate in the region has risen sharply, with
no end in sight for the boom. In the city of Midland, home values
grew by more than 23 percent year-over-year last month, pushing the
city’s median price to the No. 1 slot in Texas for the second time
this year.
Through its real estate division, Third Avenue Development, TAYO
is building a strong portfolio of West Texas real estate assets as
new residents and businesses continue to pour into the region. The
company has already acquired multiple properties located on or near
the Permian Basin as well as executed a letter of intent to form a
property development joint venture with The Home Masters Inc.
TAYO recently created Third Avenue Development, LLC to invest in
promising real estate assets to compete alongside American Homes 4
Rent (NYSE: AMH), Silver Bay Realty Trust Corp. (NYSE: SBY), Equity
Residential (NYSE: EQR) and Essex Property Trust Inc. (NYSE: ESS)
and more.
For more information on Third Avenue Development, please visit
www.thirdavenuedevelopment.com.
About Third Avenue Development, LLC.
A division of Taylor Consulting, Inc. (TAYO), Third Avenue
Development, LLC, is building a competitive portfolio of real
estate assets in emerging oil and gas regions. The company is
focused on acquiring and developing properties in the country's
top-performing markets in order to capitalize on rising demand for
housing and related infrastructure services.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This news release contains forward-looking
information within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, including statements that include the words
"believes," "expects," "anticipate" or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the company to differ materially
from those expressed or implied by such forward-looking statements.
In addition, description of anyone's past success, either financial
or strategic, is no guarantee of future success. This news release
speaks as of the date first set forth above and the company assumes
no responsibility to update the information included herein for
events occurring after the date hereof.
Taylor Consulting, Inc.Scott Wheeler, 713-840-6099President and
CEOinfo@tadcorp.com
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