Business
‘What’s Good for the Oil Business is Good for TAYO,’ CEO Says of Ongoing Infrastructure Investments in West Texas
‘What’s Good for the Oil Business is Good for TAYO,’ CEO Says of Ongoing Infrastructure Investments in West Texas.
About this update from Taylor Consulting, Inc.
[{"type":"text","content":"\n \n Major \n infrastructure investments, including pipelines, offices and \n housing, are keeping major oil companies interested in Texas’ Permian \n Basin despite softening oil prices in recent weeks, and Taylor \n Consulting Inc. (OTCBB:TAYO) CEO Scott Wheeler says the company isn’t \n slowing down its real estate acquisition plans in the Cline Shale area \n in the western part of the state.\n \n \n “Transportation trucks are still rolling and new \n drilling permits are still being issued. It’s business as usual in \n West Texas. And what’s good for the oil business is good for TAYO. We \n have no plans to slow down our interest in growing our portfolio of \n residential and commercial properties there.”\n \n \n To capitalize on the booming oilfield economy in West Texas’ Permian \n Basin region, TAYO created a new real estate division, Third Avenue \n Development, LLC, earlier this year. Steady increases in exploration and \n drilling in the ongoing Cline shale boom has resulted in high \n demand for infrastructure and real estate – housing, hospitality and \n other industries – to serve the needs of a surging population and the \n energy corporations working in and around a multi-county region between \n Midland-Odessa, San Angelo and Abilene.\n \n \n Third Avenue Development has already acquired two prime properties in \n the town of Merkel, which is part of the greater Abilene region, and the \n company announced this week that it has completed its due diligence \n toward acquisition of another property in the area: a 10-acre lot in the \n neighboring town of Tye. Healthy economic growth in West Texas has made \n it a hot spot for real estate development. Earlier this month, Third \n Avenue Development signed a purchase agreement to acquire White \n Buffalo Property Solutions LLC, a licensed West Texas real \n estate broker, to help facilitate more potentially lucrative deals in \n the region.\n \n \n Cline Shale\n \n \n Texas is home to the Eagle Ford Shale in South Texas and Cline Shale in \n West Texas’ Permian Basin – two of the world’s largest unconventional \n resource plays expected to produce for decades. Cline \n Shale is an intensive oil and natural gas exploration \n and production region in the eastern shelf of the Pe...