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79R11849 KO-D
By: Geren H.R. No. 1121
R E S O L U T I O N
WHEREAS, Since 1999, the Barnett Shale has produced more than
a trillion cubic feet of natural gas and it is estimated that it
holds 30 trillion more, making it the largest producing natural gas
field in the State of Texas and the hottest gas play in the country;
and
WHEREAS, A blanket marine shale deposit of thick black rock
located at a depth of 7,000 to 9,000 feet, the Barnett Shale was
formed from organic deposits 325 million years ago and ranges in
thickness from 50 to 1,000 feet; it is present over most of north
Texas, covering parts of 15 north-central Texas counties; the core
area of the shale is centered in Tarrant County, with extensions
into Wise, Denton, Johnson, and Parker Counties; and
WHEREAS, Although the limestone is unusually rich in raw
materials, exploration of the shale has been limited until
recently, when new technologies and drilling innovations have
allowed recovery of the gas locked inside; a process called
fracturing enables producers to literally crack open the shale to
release the natural gas sealed within, and independent companies
such as Devon, XTO, EOG Resources, Chesapeake Energy, Burlington
Resources, Chief Energy, and Pitts Energy are taking advantage of
these new techniques to explore the shale's vast reserves; between
1992 and 2003, the number of wells has increased from fewer than 100
to nearly 2,500, and in Tarrant County alone, some 326 wells were
reported active in 2003, with a valuation of more than $300 million;
and
WHEREAS, The Barnett Shale is one of the Lone Star State's
most important natural resources, and its value is particularly
apparent in light of the critical need for new natural gas resources
to meet the future energy needs of our country; now, therefore, be
it
RESOLVED, That the House of Representatives of the 79th Texas
Legislature hereby recognize April 20, 2005, as Barnett Shale Day
at the State Capitol in acknowledgment of the most significant
gas-producing area in the nation today.