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Victoria Advocate | Karnes rides cycle of boom, bust (Video)

Victoria Advocate | Karnes rides cycle of boom, bust (Video).

The article from which the following excerpt was taken appeared yesterday in our regional paper, The Victoria Advocate, as the seventh instalment in a series about the oil-boom we’re at present experiencing here in Karnes County and in other counties sitting atop of the Eagle Ford Shale formation. After I have been talking quite abit about that topic in my blog here, I thought it might be interesting to refer to and quote from the local press. The series is so very informative, with its videos, that I really considered it worth while to make it known here.

By Dianna Wray – DWRAY@VICAD.COM – Originally published May 26, 2012 at 11:03 p.m., updated May 27, 2012 at 6:49 a.m.

KARNES CITY – Sitting in the bank manager’s office, the man turned to his wife.

“Show it to him, Mama,” he said as they settled into wooden chairs across from Paul Brysch in the Karnes County National Bank.

She nodded, slid an envelope from her purse and handed it to Brysch.

A check for more than $300,000 was inside, the first royalty check from an Eagle Ford Shale well drilled on their property on the edge of Karnes County.

“Congratulations! Y’all must be thrilled!” Brysch said.

“No, no, you don’t understand,” the man said, furrowing his brow. “We’ve never had money like this before. What do we do with it?”

The question has been repeated across the Crossroads since the Eagle Ford Shale play began booming, but nowhere is it more poignant than in Karnes County. These days, the county is a lively place, the epicenter of an oil boom changing the face of South Texas and bringing wealth to people who have struggled and scraped for generations just to keep hold of their land.”

Read the full article here: The Victoria Advocate

2 responses to “Victoria Advocate | Karnes rides cycle of boom, bust (Video)

  1. Thank goodness, they’re asking for advice. Too many people would piss that sort of money away in a heartbeat.

    BTW, time to sink an oil well on the Pit estate?

    Cheers.

    • Hi Randall,
      Thanks for stopping by and leaving your comment. As to the “Pit estate”: that’s till Mary’s. But she’s in a pool on her property here. Only something has gone wrong with drilling, though – rumor is they dropped a tool into the well – and at present they’re trying to fix it. But we hope it’ll start producing soon. And then Mary and her cousin jointly own the minerals on another 100 acres hereabouts. There’s an old well there, theat’s still producing – not too much, but still. And they have leased minerals below 4500 ft [down to that depth is the existing well], but there has been no activity yet. So there’s still hope.
      Take care,
      Pit

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