19/07/2014
As Taylor Consulting, Inc. (TAYO) continues to scout and acquire real estate near Texas’ Cline Shale, the latest estimates for the formation predict that the formation could soon spawn the biggest oil and gas boom in U.S. history.
Although the Cline formation is smaller in area than Texas’ other primary shale plays—Barnett and Eagle Ford—its hydrocarbons are denser, potentially containing an incredible 3.6 million barrels of recoverable oil per square mile. That gives the Cline Shale an estimated 30 billion recoverable barrels, making it 50 percent larger than the nation’s top two shale plays, Eagle Ford and North Dakota’s Bakken, combined.
With the Cline Shale poised to become home to an inestimable amount of drilling and exploration in the coming years as the U.S. moves toward energy independence, the flood of new business and residents into Texas’ Permian Basin region is expected by many to climb steadily. In order to capitalize on the coming demand for real estate to be used for everything from temporary housing to public infrastructure to entertainment amenities, TAYO is building a portfolio of properties offering multiple avenues for potential revenue.
Earlier this week, the company’s real estate division—Third Avenue Development, LLC—won a bid to acquire 64 lots in Texas’ hottest oil and gas territory. Through Third Avenue Development, the company is committed to investing in promising real estate assets to compete alongside American Homes 4 Rent (AMH), Silver Bay Realty Trust Corp. (SBY), Equity Residential (EQR), Essex Property Trust Inc. (ESS) and more.
