With capital spending in West Texas’ Wolfcamp/Cline Shale formation on
track to exceed $12 billion this year, Taylor Consulting Inc.
(OTCBB:TAYO) continues to explore desirable properties to add to its
growing portfolio of prime real estate in the area.
“We created our real estate division, Third Avenue Development, earlier
this year with a singular goal: to capitalize on increasing growth in
the counties in and around Cline Shale by building a highly competitive
commercial and residential real estate portfolio there,” said CEO Scott
Wheeler. “Capital investment in West Texas is occurring at such a
breakneck speed, we are amazed at the opportunities and continue to
scout available properties that meet our criteria for acquisition.”
Located just east of Midland, Texas, the Cline
Shale is the second-highest area of investment among U.S. unconventional
oil plays. Unconventional Oil & Gas Report published
forecasts from research and advisory firm Wood Mackenzie earlier this
month that place the formation’s annual production average this year at
200,000 barrels per day. That figure could rise to 700,000 barrels a day
by the end of the decade, with capital spending in the region likely to
surpass the Bakken
by 2017. The Bakken Shale formation, which occupies more than 200,000
square miles in North Dakota, Montana and Canada, is one of the largest
oil and natural gas plays in the United States and is currently
producing nearly 1 million barrels of oil a month.
Steady increases in exploration and drilling in the ongoing Cline shale
boom has resulted in high
demand for infrastructure and real estate – housing, hospitality and
other industries – to serve the needs of a surging population and the
energy corporations working in and around a multi-county region between
Midland-Odessa, San Angelo and Abilene.
Third Avenue Development has already acquired two prime properties in
the town of Merkel, which is part of the greater Abilene region, and the
company announced this week that it has completed its due diligence
toward acquisition of another property in the area: a 10-acre lot in the
neighboring town of Tye. Healthy economic growth in West Texas has made
it a hot spot for real estate development. Earlier this month, Third
Avenue Development signed a purchase agreement to acquire White
Buffalo Property Solutions LLC, a licensed West Texas real
estate broker, to help facilitate more potentially lucrative deals in
the region.
Cline Shale
Cline
Shale is an intensive oil and natural gas exploration
and production region in the eastern shelf of the Permian Basin in West
Texas – a multi-county region between Midland-Odessa, San Angelo and
Abilene – estimated to bring 15 years of drilling activity and at least
30 years of oil production. The Permian Basin of West Texas and eastern
New Mexico, which contains more than 5 billion barrels of proven oil
reserves and estimates of 30 billion barrels of recoverable oil,
outranks Alaska and the Gulf of Mexico as the top oil opportunity region
in North America. The American Oil & Gas Reporter says
commercial and residential real
estate development is a key factor in successfully keeping up with
the economic growth that comes with the boom in those areas.
Big Plans for ‘Big Country’
White Buffalo Property Solutions serves all 19 counties in “The Big
Country” area of Texas in the west central part of the state from its
centrally located home base of Abilene, the largest city near the Cline
Shale region. An advantageous location near Cline Shale and the hometown
roots of White Buffalo principal Kyle Tamez, who has extensive knowledge
of Abilene and the surrounding area, are sure to be valuable assets in
meeting the intense demand for residential and commercial real estate in
the region. We are excited about the opportunities that await us in The
Big Country.
For more information, visit www.whitebuffalopropertysolutions.com.
About Taylor Consulting Inc.
Taylor Consulting, Inc. (TAYO) recently created Third Avenue
Development, LLC as a new division whose primary goal is to invest in
promising real estate assets to compete alongside American Homes 4 Rent
(NYSE:AMH), Silver Bay Realty Trust Corp. (NYSE:SBY), Equity Residential
(NYSE:EQR), Essex Property Trust Inc. (NYSE:ESS) and others.
Third Avenue Development, a premier hybrid real estate investment and
development company, is building an emerging portfolio of real estate
assets for investment, rehabilitation and resale. The company is focused
on acquiring properties in the country’s top-performing housing markets
in order to capitalize on the continued recovery and growth of the U.S.
real estate marketplace. For more information, visit www.ThirdAvenueDevelopment.com.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995: This news release contains forward-looking information
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements that include the words “believes,”
“expects,” “anticipate” or similar expressions. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements
of the Company to differ materially from those expressed or implied by
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past success, either financial or strategic, is no guarantee of success.
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herein for events occurring after the date hereof.
Copyright Business Wire 2014