Economic outlook for oil and gas industry in our area - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Economic outlook for oil and gas industry in our area

Amarillo, TX - A major industry in our area is predicting a strong year for 2014.

The oil and gas industry is anticipating production to grow substantially, which should continue to help boost the economy across The Panhandle.

An oil and gas specialist in our area, Tom McCarty, expects the employment numbers for the industry to grow in 2014.

"So far our employment figures are very good ... and again the oil and gas industry is just going to keep growing and employment should continue. We are in really good shape in The Panhandle, Amarillo is in great shape.

 McCarty says the industry is anticipating production to continue to grow because of new technology.

"The technology is so much better than it use to be for finding and extracting hydrocarbons at a zone that once upon a time, we could not extract from. In 2014 we should see production increase because we are finding new fields on a regular basis, new zones that once you couldn't get anything out of and now they are good zones."

McCarty adds success in oil and gas is a good because the industry is giving back to our area.

"These people who are in the oil and gas industry are giving an awful lot to charity causes. And I have talked to several that say they have been so blessed by this. Because these people share, you know, they have been through hard times.

McCarty says around 25 to 30% of employment in The Panhandle can be attributed to the oil and gas business.

And up in 60% in certain counties such as Ochiltree and Wheeler.

  • Today's Local News HeadlinesToday's Local NewsMore>>

  • Clovis-Carver Library now has WWII Japanese American internment exhibit

    Clovis-Carver Library now has WWII Japanese American internment exhibit

    KFDAKFDA

    The Clovis-Carver Public Library now has an exhibit that shows the history of Japanese American Internment camps in New Mexico during World War II (WWII).  

    The Clovis-Carver Public Library now has an exhibit that shows the history of Japanese American Internment camps in New Mexico during World War II (WWII).  

  • Warford Activity Center renovations underway

    Warford Activity Center renovations underway

    Tuesday, March 28 2017 11:40 PM EDT2017-03-29 03:40:12 GMT
    Source: KFDASource: KFDA

    Amarillo's former North Branch YMCA is closer to opening as the Charles E. Warford Activities Center. Now that the facility is free of asbestos, construction and renovations are set to begin soon. First up is the indoor swimming pool. Tuesday evening the Amarillo City Council approved a $488,031 contract to renovate the pool at the center. "The pool was built in the 1960s, so we're dealing with a pool that had cast iron drain lines...

    Amarillo's former North Branch YMCA is closer to opening as the Charles E. Warford Activities Center. Now that the facility is free of asbestos, construction and renovations are set to begin soon. First up is the indoor swimming pool. Tuesday evening the Amarillo City Council approved a $488,031 contract to renovate the pool at the center. "The pool was built in the 1960s, so we're dealing with a pool that had cast iron drain lines...

  • United Way announces 2017 funding allocations

    United Way announces 2017 funding allocations

    Tuesday, March 28 2017 9:52 PM EDT2017-03-29 01:52:43 GMT
    Source: United Way of Amarillo & CanyonSource: United Way of Amarillo & Canyon

    United Way of Amarillo and Canyon announced the 26 programs that will benefit from the $1.6 million raised during the 2016 annual campaign.

    United Way of Amarillo and Canyon announced the 26 programs that will benefit from the $1.6 million raised during the 2016 annual campaign.

Powered by Frankly