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The Bubble Burst: The Eagle Ford Shale Aftermath

What once was booming along the Eagle Ford Shale corridor is no more. During its Heyday, towns like Carrizo Springs had been transformed into a hub/oasis of promised riches. As oil was being siphoned out of the ground in astronomical totals.

That was then. Today the area is a shell of what it once was. As the promise of riches once in a while pops its head and reminds those communities that at a moment’s notice it could come back, well depending on the price of the barrel of oil.

At this point the price on a 42-gallon barrel of crude stands at $66.14 or a few dollars above the recognized breakeven point average of $60.00. This alone is often not enough to start up the machines for many companies.

Dimmit County Judge Frank Ponce is enthusiastic over the resurging activity in the area.

“We’ve seen more oil well related activity recently and that is always good news.”

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Ponce touched base on the business end of the spectrum as related to increased overall activity.

“We’re not seeing much local business ownership growth as before. What we’re seeing is from out of town.”

Ponce also touched base on how this time around preparedness is key. “The first time around we weren’t prepared. This time around we are.” Ponce discussed the increased amount of vehicle accidents involving commercial vehicles. “We saw too many accidents and deaths in those years. We have seen an increase in traffic violations as compared to before. I believe this all comes down to preparedness.”

Ponce states that there had been a decrease in activity which came with a heavy price including losses in funds from mineral rights, taxes and royalties and other oil producing related activities as well, “The good thing for us it’s slowly coming back around.”

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