HOUSTON--(BUSINESS WIRE)--Falling oil prices due to OPEC’s refusal to cut oil production won’t stop Texas Shale oilfields, which continue to produce near-record levels in South and West Texas, where Taylor Consulting Inc. (OTCBB:TAYO) is collecting real estate assets to capitalize on historic growth in the Permian Basin.
“OPEC’s decision to maintain current crude production levels sent prices down on Monday, but many experts don’t believe sub-$70 oil will kneecap the U.S. boom as some producers in the Middle East had hoped. Despite OPEC, Texas oil is flowing and our focus on West Texas is unchanged,” said TAYO CEO Scott Wheeler. “With thousands of wells being drilled in Texas and oil producers committed to making back their investments, technological advances are making it cheaper to produce shale oil. The ‘break-even’ price for U.S. oil producers continues to go down, making the industry more resilient to price dips.”
The Texas economy remains in great shape and the Permian Basin region in particular is one of the hottest real estate markets in the country as towns in West Texas struggle to cope with the increase in population and capital drawn there by the energy industry. With more and more housing, businesses and infrastructure needed to handle the rapid influx of workers, families and capital, TAYO is strategically building a real estate portfolio of prime properties in counties surrounding the area in West Texas.
Third Avenue Development, TAYO’s real estate division, has already acquired two prime properties in the greater Abilene region, and the company 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. To capitalize, Third Avenue Development has 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.