The sight of new oil rigs popping up around Lubbock County seems to suggest that the often talked about oil boom is headed our way. Along with that, rumors that Halliburton is buying land in Lubbock County are circulating.
We contacted Halliburton and in an email statement, Senior PR representative Susie McMichael told us, "Halliburton has visited several locations in the area, but there has been no land purchase made yet."
We also looked up the drilling permits that have been filed in the past few years and in Lynn, Terry and Lubbock counties, a total of almost 250 new drilling permits have been filed and approved since 2010. This is compared to nearly 150 the three years prior.
Terry County has the most, with 68 in 2011, followed by Lynn County who had 31 in 2011. Each county had 48 and 21 in 2012 respectively. Lubbock has been slightly behind those two counties with 10 in 2011 and 16 in 2012.
We also spoke with oil experts off-camera about the potential of an oil boom. According to these experts, it's too early to tell for sure if Lubbock will experience a boom and admitted we won't for a couple of years.
They say the boom will be largely based on the kind of productivity these early wells get. If it's good, they say, that's when we will see a mad rush to the area.