Commissioner Carrillo Speaks at Barnett Shale Expo 2007

Commissioner Victor G. Carrillo joined Fort Worth Mayor Mike Moncrief and Economist Dr. Ray Perryman as guest speaker at the first Barnett Shale Expo at the Fort Worth Convention Center this Wednesday.  Several thousand people are estimated to have attended the first-of-its-kind Expo. 

The Barnett Shale natural gas trend is the hottest onshore gas exploration effort in the nation.  The Barnett Shale is currently producing in 17 Texas counties but the trend continues to grow.  Simply put no one knows how far the Barnett Shale productive area will continue to extend.

The event highlight was the release of Dr. Perryman’s Barnett Shale economic impact study.  The report estimates that overall effects of Barnett Shale activity will yield over 100000 jobs and $10.4 billion in annual output through 2015. 

Commissioner Carrillo reported that as of mid-April there were 6083 producing wells and 3300 permitted locations for new wells into this unconventional natural gas reservoir.  Approximately 177 operators are currently involved in the trend with Devon Energy as the largest producer.  Since 2000 the Barnett Shale has produced over 2.3 trillion cubic feet (Tcf) of natural gas  -- representing approximately 12 of total Texas natural gas production.  Texas produced approximately 6.2 Tcf of natural gas in 2006 making it the top gas producing state in the nation. 

“The Texas Barnett Shale trend represents extraordinary opportunities for the region the state and the nation” states Commissioner Carrillo.  “As our nation’s voracious energy appetite continues to grow this enormous natural gas resource in our own backyard brings much needed jobs economic development and energy security to our great state and nation.”

Commissioner Carrillo’s full presentation may be viewed at:
http://www.rrc.state.tx.us/commissioners/carrillo/BarnettShaleUpdatesApril2007.ppt