Economic outlook for oil and gas industry in our area - KSWO, Lawton, OK- Wichita Falls, TX: News, Weather, Sports. ABC, 24/7, Telemundo -

Economic outlook for oil and gas industry in our area

Posted: Updated:

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.

  • Local NewsLocal NewsMore>>

  • Cable One, Viacom continue programming dispute

    Cable One, Viacom continue programming dispute

    Tuesday, April 15 2014 11:38 PM EDT2014-04-16 03:38:19 GMT
    DUNCAN, Okla._ Cable One customers are still without 15 popular television channels after the cable provider failed to reach an agreement with Viacom by April 1. "We are not happy about this situation,"
    Cable One customers are still without 15 popular television channels after the cable provider failed to reach an agreement with Viacom by April 1.
  • Day two of Miles Bench competency trial

    Day two of Miles Bench competency trial

    Tuesday, April 15 2014 7:06 PM EDT2014-04-15 23:06:18 GMT
    DUNCAN, Okla._A psychologist who changed her opinion on whether an accused killer was competent to stand trial explained her decision to a Stephens County jury Tuesday afternoon. This was the second
    A psychologist who changed her opinion on whether an accused killer was competent to stand trial explained her decision to a Stephens County jury Tuesday afternoon.
  • Post office lines reduced with more e-filings

    Post office lines reduced with more e-filings

    Tuesday, April 15 2014 6:55 PM EDT2014-04-15 22:55:57 GMT
    LAWTON, Okla._It's finally that day in April most Americans dread...tax day. But the IRS says this year, many taxpayers have decided against waiting until the last minute to file their returns. At the
    It's finally that day in April most Americans dread...tax day. But the IRS says this year, many taxpayers have decided against waiting until the last minute to file their returns.
Powered by WorldNow
KSWO-TV, 1401 SE 60th Street
Lawton, OK 73501

Telephone: (580) 355-7000
Fax: (580) 357-3811
Email: news@kswo.com

All content © Copyright 2000 - 2014 Worldnow and KSWO. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.