Recent TAYO Activity in West Texas Cline Shale Region Comes Ahead of Near-Record Construction Numbers in Abilene
October 23 2014 - 5:00AM
Business Wire
Two prime acquisitions by Taylor Consulting Inc. (OTCBB:TAYO),
due diligence on another and a strategic purchase agreement to
acquire a West Texas real estate broker in one of the hottest areas
in the country come just ahead of near-record construction numbers
in Abilene, Texas.
Part of a multi-county region engulfed in the Cline Shale oil
boom in West Texas’ Permian Basin, Abilene and its surrounding
metro area are enjoying economic growth that has shown no signs of
slowing down. The Abilene Reporter-News reported last week that the
Abilene Economic Index posted another increase in August, rising to
121.7 from 121.3 the month before. Impressive construction numbers
are pushing the index upward, with $133.3 million in permits issued
this year to date. That total is up nearly 53 percent relative to
the first eight months of last year. Average home sales have
increased by 2.6 percent over the same period last year, as
well.
“It’s the Cline Shale effect – West Texas communities are
benefitting from an influx of workers handling the oil and natural
gas production, which naturally brings with it residential and
commercial real estate development. Our focus on Abilene is not
incidental, but calculated,” said TAYO CEO Scott Wheeler. “So
impressive construction and home sales numbers coming on the heels
of our most recent activity in the area spur us to continue our
strategy there, which is to continue to expand our real estate
portfolio through the fourth quarter and beyond.”
Through its real estate division, Third Avenue Development, TAYO
has already acquired two prime properties in the town of Merkel,
which is part of the greater Abilene region. The company announced
this week that it has completed its due diligence toward the
acquisition of another property in the area: a 10-acre lot in the
neighboring town of Tye.
The area’s healthy economic growth, spurred by the West Texas
oil and gas boom, has made it a hot spot for real estate
development. Earlier this month, Third Avenue Development signed a
purchase agreement to acquire White Buffalo Property Solutions LLC,
a licensed West Texas real estate broker, to help facilitate more
potentially lucrative deals in the region.
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.
Big Plans for ‘Big Country’
White Buffalo Property Solutions serves all 19 counties in “The
Big Country” area of Texas in the west central part of the state
from its centrally located homebase of Abilene, the largest city
near the Cline Shale region. “An advantageous location near Cline
Shale and the hometown roots of White Buffalo principal Kyle Tamez,
who has extensive knowledge of Abilene and the surrounding area,
are sure to be valuable assets in meeting the intense demand for
residential and commercial real estate in the region. We are
excited about the opportunities that await us in The Big
Country.”
For more information,
visit www.whitebuffalopropertysolutions.com.
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 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 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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