Experts Talk Oil and Gas Coming to Lubbock

Experts from across the state met Thursday to talk about oil and gas making its way to the Hub City.

            There is a reason oil is called ‘Black Gold’ because where there is oil, there is money.

            “I think out here we are certainly excited about it,” Senator Robert Duncan said. “It’s a huge economic development for us.”

            Senator Robert Duncan and several other experts from around the state gathered Thursday at the Overton hotel to talk about oil and gas and what it means for the Lubbock economy.

“I think our situation will not be as much as a boom as it will be a steady grow which is usually better in the long run,” Duncan said.

Texas is the number one producer of oil in the country.

Duncan said the commodity is a big money maker for the state.

            “If you look at our general revenue of the state it’s been very helpful to get us to a better situation with our school funding with higher education, with public safety,” Duncan said. “Basically it helps support the core services of the state.”

            Lubbock is in between the oil fields in the panhandle and the Kline Shale in the Permian Basin.

            President of the Permian Basin Petroleum Association Ben Shepperd said it is only a matter of time before the two combine right over Lubbock.

“In recent years we are seeing the rebirth and revitalization of old historical oil fields,” Shepperd said. “Then were seeing new development in areas that’s not traditionally associated with it like; Lubbock county.”

He said Midland and Odessa have been struggling with the recent growth but that is something Lubbock is trying to get ahead of.

             “Lubbock is being very proactive in trying to plan for the infrastructure  needs that would come with any kind of a spurt in growth that oil and gas would bring,” Shepperd said. 

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