HOUSTON--(BUSINESS WIRE)--Rapidly increasing oil and gas production in Texas is creating unprecedented job and population growth in the state, and Taylor Consulting, Inc. (OTCBB: TAYO) is making plans to capitalize on a booming real estate market there.
Forbes reported last week that, thanks to fast-rising production from Texas’ Eagle Ford Shale and Permian Basin formations, Texas reached a new milestone in September 2013: If the state were a separate nation from the U.S., it would now rank as the 9th-largest oil-producing country in the world. That month, the state’s oil output was measured by IEA at 2.7 million barrels per day—twice the amount the state was producing a mere 29 months previously.
If current trends continue, Texas could pass OPEC giants such as Iran, Iraq and the UAE in production in the next few years. As energy companies rush into the state to capitalize on the boom, demand for real estate near Texas’ oilfields and in its major cities is growing nearly as quickly.
“All of the oilfield and energy workers moving to Texas from all over the U.S. need housing, offices and other amenities,” said TAYO CEO Scott Wheeler. “With the industry set to continue its growth for some time, there are boundless opportunities to acquire, develop, rehabilitate and resell property across the state.”
TAYO plans to grow its national brand by building up its portfolio of assets in Texas, first, acquiring properties with high potential and applying multiple marketing strategies.
Third Avenue Development, LLC, is already working 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 more.
For more information on Third Avenue Development, please visit www.ThirdAvenueDevelopment.com.
About Third Avenue Development, LLC
A division of Taylor Consulting, Inc. (TAYO), Third Avenue Development, LLC, is building an emerging portfolio of real estate assets for rehabilitation and rent or 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.
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.