Texas Drives U.S. Oil Boom and TAYO’s Growing West Texas Real Estate Portfolio, Despite Softened Oil Prices
November 18 2014 - 5:00AM
Business Wire
Even though oil prices have softened, Texas continues to drive a
historic U.S. oil boom that shows no signs of slowing down and a
flood of new West Texas drilling permits drives Taylor Consulting
Inc. (OTCBB:TAYO) to find and acquire the most promising properties
in the Permian Basin area.
With Texas oil production at Cline Shale in West Texas and Eagle
Ford in South Texas topping 3 million barrels a day this year – a
first since the late 1970s – the United States is in the midst of
one of the biggest booms in decades and according to the Energy
Information Administration has become a top producer for the world
with more than 11 million barrels of oil every day. A study by the
Institute for Economic Development at the University of Texas-San
Antonio (UTSA) showed drilling at Eagle Ford produced an $87
billion economic impact and employed more than 155,000 people in
the 21 counties surrounding it. UTSA’s study also included 10
counties in and around Cline Shale, which actually encompasses 39
counties, estimating economic impact in those counties to be as
high as $34 billion with more than 30,000 jobs created by 2022.
“The UTSA study also noted that there’s likely more recoverable
oil in the Permian, which is great news for TAYO and our ongoing
efforts to acquire promising properties in West Texas. Texas is at
the forefront of the U.S. oil boom and, despite lower oil prices,
there’s no slowdown here,” said TAYO CEO Scott Wheeler. “The U.S.
Energy Information Administration said just this week that Texas
has added 19,000 on-the-ground energy jobs – more than any other
state and six times more than New Mexico, also part of the Permian
Basin. Oil prices may be lowering, but Texas isn’t slowing down and
neither is TAYO.”
Top energy industry executives recently told Bloomberg how they
are planning for softening oil prices and they agreed production
could be sustained even if prices fell lower. “Oil prices are
lower, but they’re not low enough to really put a big pinch on that
activity,” Ken Medlock, senior director of the Center for Energy
Studies at Rice University’s Baker Institute, told the
newspaper.
Earlier this year, TAYO formed Third Avenue Development, a new
real estate division, to capitalize on the historic black gold rush
in the Lone Star State. With U.S. oil output at the highest level
since 1983, the flood of new drilling permits issued in West Texas
has not ebbed along with prices. The boom continues to draw new
workers, residents and businesses to the region. Accordingly, TAYO
continues building a competitive real estate portfolio in the
region to capitalize on the unprecedented growth. Two weeks ago,
the company announced due diligence was completed toward its latest
acquisition target: 10 acres near Abilene, one of the largest
economic centers of the booming Permian region.
Third Avenue Development has already acquired two prime
properties in the town of Merkel, which is part of the greater
Abilene region, and the company announced this week that it has
completed its due diligence toward acquisition of another property
in the area: a 10-acre lot in the neighboring town of Tye. Healthy
economic growth in West Texas 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
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 home base 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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