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Fracking to Ramp Up in Permian Basin - Wednesday, July 17, 2013

For every one job created on a drilling rig in the Permian Basin by the hydraulic fracturing craze taking over in West Texas, two jobs will be generated in Houstonís downtown skyscrapers, Texas economist Ray Perryman told me recently.

Perryman was in town recently to meet with Houston companies that might be interested in space in a new energy office tower being shopped around in Midland.

Itís not just the oil and gas exploration and production companies in Houston ratcheting up their presence in West Texas. Last week, we reported that Houstonís Frac Resources, a frac sand logistics and distribution company, is teaming with La Porte-based Frontier Logistics LP to build a new rail park on 550 acres of land in the Permain Basin.

As much as weíve heard about the Eagle Ford shale in South Texas being a premier spot for hydraulic fracturing, the Permian Basin has, for the last century, been a hotbed of activity for conventional oil and gas development.

I asked Marshall Adkins, a managing director in the Houston office of Raymond James & Associates Inc., if the Permian is the next big thing in fracking. He confirmed that the Permian Basin, one of the nationís most prolific conventional basins in the lower 48, is ready to begin another ramp-up in both investment and development.

Written by Deon Daugherty, Reporter for the Houston Business Journal


 

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