TAYO: West Texas Oil Boom Far From Over as Employment, Drilling Permits and Rig Count Keep Going Up
October 16 2014 - 9:39AM
Business Wire
Taylor Consulting Inc. (OTCBB:TAYO) continues to execute its
acquisition plans in the West Texas Permian Basin region as oil
drilling permits, rig count and employment figures keep rising.
The Midland Reporter-Telegram reported October 10 that the Texas
Permian Basin Petroleum Index in August was up 10.3 percent over
the same period the previous year, driven by record drilling
permits and a high rig count, despite softening oil prices. The
state’s Railroad Commission issued a record 1,179 drilling permits
this August, 70.6 percent more than the 691 issued in August 2013.
Employment figures, too, remained excellent, with the August
average of 33,670 topping last August’s numbers by 11.3 percent.
Employment in the Permian oil patch is up 8.6 percent so far this
year over last year’s average.
“Obviously, these kinds of numbers make it very clear that the
West Texas oil boom is far from over. It has not even begun to slow
down,” said TAYO CEO Scott Wheeler. “Our company remains committed
to capitalizing on this historic economic expansion by investing in
the kind of real estate that is absolutely necessary for the
communities in West Texas to handle this kind of incredible
growth.”
The major increase in oil and gas employment and activity in
Texas has created a tight demand for real estate near the Permian
Basin, the new heart of U.S. oil production. TAYO is building a
portfolio of real estate assets in the region to capitalize on the
historic influx of workers and capital. The company has already
acquired multiple properties located on or near the Permian Basin
and has executed a letter of intent to form a property development
joint venture with The Home Masters Inc.
Cline Shale
Texas is home to the Eagle Ford Shale in South Texas and Cline
Shale in West Texas’ Permian Basin – two of the world’s largest
unconventional resource plays expected to produce for decades.
Cline Shale is an intensive oil and natural gas exploration and
production region in the eastern shelf of the Permian Basin in West
Texas – a multi-county region between Midland-Odessa, San Angelo
and Abilene – estimated to bring 15 years of drilling activity and
at least 30 years of oil production. The Permian Basin of West
Texas and eastern New Mexico, which contains more than 5 billion
barrels of proven oil reserves and estimates of 30 billion barrels
of recoverable oil, outranks Alaska and the Gulf of Mexico as the
top oil opportunity region in North America. The American Oil &
Gas Reporter says commercial and residential real estate
development is a key factor in successfully keeping up with the
economic growth that comes with the boom in those areas.
About Taylor Consulting Inc.
Taylor Consulting, Inc. (TAYO) recently created Third Avenue
Development, LLC as a new division whose primary goal is 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), Essex Property Trust Inc. (NYSE:ESS) and
others. Third Avenue Development, a premier hybrid real estate
investment and development company, is building an emerging
portfolio of real estate assets for investment, rehabilitation and
resale. The company is focused on acquiring properties in the
country’s top-performing housing markets and emerging oil and gas
regions in order to capitalize on the continued recovery and growth
of the U.S. real estate marketplace. For more information,
visit www.ThirdAvenueDevelopment.com.
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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