HOUSTON--(BUSINESS WIRE)--Taylor Consulting Inc. (OTCBB: TAYO) prepares to finalize its latest real estate acquisition in West Texas this week, and economic forecasts for the region remain extremely bright. The Wall Street Journal reported last week that oil prices would need to fall another $20 a barrel in order to put the brakes on the historic energy boom now underway in the Lone Star State.
According to the Journal, market research from Robert W. Baird & Co. predict that the Permian Basin, where U.S. drilling activity is at its peak, will remain profitable for companies to drill at prices between $57 and $75 a barrel. Accordingly, the giant corporations active there—including Chevron Corp., Apache Corp. and Pioneer Natural Resources Co.—likely have no plans to stop drilling.
With prices now north of $80, that’s terrific news for TAYO as the company continues building a competitive real estate portfolio in the region to capitalize on the unprecedented growth. Two weeks ago, the company announced due diligence was completed toward its latest acquisition target: 10 acres near Abilene, one of the largest economic centers of the booming Permian region.
The property is located in Tye, Texas, a small town in Taylor County that is a part of the greater Abilene metro. TAYO has targeted a number of properties in the area as the ongoing shale boom transforms the region with a surge in capital and population.
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 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 such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.