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Sweetwater Mayor Greg Wortham offered an outlook on the oil and gas industry and also noted some upcoming events to attendants of the Cline Shale Alliance luncheon held at the Nolan County Coliseum on Friday.
While the Permian Basin is currently the second-largest oil development in the world, some projections note that the Cline Shale will surpass that. As a result, challenges will be seen and must be ready to be faced.
While no set map has been made of the Cline, already a lot of activity has been seen and a prime opportunity has presented itself for industry leaders.
In the meantime, city leaders must keep in mind what is already present. Most people prepare for growth after the "boom", but Sweetwater has already been working with legislators to prepare ahead of the growth.
Discussion was also held on the state's Rainy Day Fund, in which Wortham said was funded largely in part through oil exploration within West Texas. He added the legislation should be pushed so that the money that comes from the region can stay and be used for those who created the revenue.
Water usage was also noted by the executive director of SEED (Sweetwater Enterprise for Economic Development), Ken Becker, in that companies in the industry have an understanding of the concern that is being raised. Some areas are taking steps in reclaiming water, but it is an expensive process in which not all entities can take part in.
However, the overall oil and gas industry is doing a good job in their current work, as they are taking steps to resolve any problems before the situation becomes dire. The industry continues to prepares for the future in any and all aspects, through meetings such as the Cline Shale Alliance.
Two upcoming events were also shared by Wortham. The 6th annual Transmission Summit will be held on January 23-24 in Sweetwater, which brings together energy leaders and regional stakeholders along with transmission service providers in an effort to understand grid strategies that support infrastructure development and energy transfer.
Additionally, the 6th annual Southwest Energy Summit will take place on March 26-27 at the Nolan County Coliseum, which deals with oil, natural gas, wind, nuclear, solar, rail and trucking, While state representatives and leaders from other states attend the event, it proves to be a worldwide gathering as people from Canada and Germany are also slated to make their way to the area.
This is the final article in a three-part series recapping the January 2014 meeting of the Cline Shale Alliance. The organization serves as an information exchange, regional development and business networking forum through the organization and coordination of periodic luncheons and workshops throughout the Cline Shale region.