KPMG's Global Energy Institute is holding its sixth annual Global Energy Conference today and tomorrow in Houston, Texas. Former President of Mexico Vicente Fox will deliver the keynote address--Bringing the New Economy to Latin America--which will be streamed live today from 12:45PM – 1:30PM CST.

Focused on top-of-mind financial, risk, and tax issues, this annual conference engages energy financial executives from around the world in a series of interactive discussions with industry leaders.

Home to energy giants including ConocoPhilips, Marathon Oil and Halliburton, Houston is a natural center for the conference. And speaking of a natural home, Fort Worth sits on the epicenter of a 6,000 square mile-plus energy resource—the Barnett-Shale natural gas field, a shallow reservoir extending under 18 Texas counties. The field also runs under DFW Airport—itself larger than Manhattan.

David DuBois, CEO of the Fort Worth CVB, says that while the existence of the gas field has been known since the 1950’s, the drilling technology took time to develop. It will be worth the wait; DuBois estimates Fort Worth will earn over $1 billion in mineral lease royalties over the next 10 years.

Local Fortune 500 company XTO Energy is a dominant Barnett-Shale player; Chesapeake Energy, in addition to a $104 million purchase of struggling Pier 1’s Fort Worth headquarters building, has signed an agreement to drill under the 40-acre, 35-block Sundance Square in the heart of FW’s downtown.

Drilling rigs can now be seen around DFW Airport, and will soon come to the outskirts of Fort Worth. Keep an eye on the growing economy of this vibrant city--also home to Radio Shack, BNSF and AMR (American Airlines)—with its compelling mix of cowboys and world-class culture.

Jeff Heilman

5/20/08