Longview — The East Texas energy business that boomed through the past decade may be beginning to tire.
Texas Railroad Commission data shows gas well production in Gregg, Harrison, Rusk and Panola counties declined significantly from January 2010 to January 2012.
Gas well production in Gregg County fell about 20 percent during the two-year period; Rusk County production declined 29 percent. Panola County production fell 19 percent.
Loyd Adams, Panola County Tax Appraisal District chief appraiser, said total mineral market valuations dropped about 13 percent from 2010 to 2011, from $4.07 billion to $3.39 billion. The county’s total taxable values declined about 10 percent during that period.
The lagging gas well activity comes as natural gas prices falter, due in part to a milder-than-normal winter.
“There’s simply no demand for natural gas right now,” said Leroy Linseisen, president of East Texas Radiator and its sister company ETR Services, both of Longview. “We have an over-abundance of natural gas.”
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