TAYO Pursues Prime West Texas Real Estate Acquisitions as Cline Shale Capital Spending Approaches $12 Billion

HOUSTON--(BUSINESS WIRE)--

With capital spending in West Texas' Wolfcamp/Cline Shale formation on track to exceed $12 billion this year, Taylor Consulting Inc. TAYO continues to explore desirable properties to add to its growing portfolio of prime real estate in the area.

“We created our real estate division, Third Avenue Development, earlier this year with a singular goal: to capitalize on increasing growth in the counties in and around Cline Shale by building a highly competitive commercial and residential real estate portfolio there,” said CEO Scott Wheeler. “Capital investment in West Texas is occurring at such a breakneck speed, we are amazed at the opportunities and continue to scout available properties that meet our criteria for acquisition.”

Located just east of Midland, Texas, the Cline Shale is the second-highest area of investment among U.S. unconventional oil plays. Unconventional Oil & Gas Report published forecasts from research and advisory firm Wood Mackenzie earlier this month that place the formation's annual production average this year at 200,000 barrels per day. That figure could rise to 700,000 barrels a day by the end of the decade, with capital spending in the region likely to surpass the Bakken by 2017. The Bakken Shale formation, which occupies more than 200,000 square miles in North Dakota, Montana and Canada, is one of the largest oil and natural gas plays in the United States and is currently producing nearly 1 million barrels of oil a month.

Steady increases in exploration and drilling in the ongoing Cline shale boom has resulted in high demand for infrastructure and real estate – housing, hospitality and other industries – to serve the needs of a surging population and the energy corporations working in and around a multi-county region between Midland-Odessa, San Angelo and Abilene.

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

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 AMH, Silver Bay Realty Trust Corp. SBY, Equity Residential EQR, Essex Property Trust Inc. 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.

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