Most people in North Texas have heard about the Barnett Shale. For those that are not familiar with the Barnett Shale it is one of the largest gas fields in the United States. The Barnett shale is a natural gas source bed rock that stretches over 16 to 21 Texas counties. The Barnett Shale is still being discovered. Drilling Rigs can be seen in most of the Counties in North Texas. I saw one the other day just less than two miles from the Tarrant County Court House. The gas has always been below us but the technology to produce from this formation did not evolve until 1980. Now North Texas is the midst of a Gas Boom! Some experts say that production in this gas field will be active for another 100 years or more. So if you are visiting the area and see the drilling rigs about town you will know what they are drilling for.
The Texas Railroad Commission which has regulatory oversight of the Texas oil and gas industry has reported as of October 2006 there are a total of 5,205 gas well on the Railroad Commission records work the Barnett Shale. With the present production in the area and larger companies such as Shell coming into the play one can only imagine the impact this industry will have on North Texas. Along with the gas, money is also flowing. Many new millionaires are being made and along with money comes new jobs as well as housing needs. As Eddie Chiles use to say "If you don't have a oil well - get one..." , In my real estate practice mineral rights were never mentioned when selling or buying property inside the city limits, now mineral rights are some thing to consider. If you own property you may want to find out if you have the mineral rights. If you are selling property try and retain some of the mineral rights if you own them. It could be like a CD in the bank. The Barnett Shale Play is here and I think it is going to be here for a long time. Enjoy it while it is here. If you are lucky enough to own mineral rights make sure you are getting a good deal with you sign the lease. If you are in the drilling business - Best of Luck and make all your wells be productive!
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