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Real Estate Agent Running Out of Land to Sell In Anticipation of Oil Boom

It's no coincidence he's selling so fast, it's all a result of what people are calling the next big oil boom.
Scott Morgan never imagined he'd have to fear working himself out of his own job.

"Because there's just, we just don't have the inventory to back up what we have after we sell," said the real estate broker.

In fact, he's just sold land for five new hotels to be built in Sweetwater.

"We have not seen this amount of activity in the 32 years that I've been a broker," said Morgan.

Land owners like Rony Linebaugh couldn't be more surprised at just how fast their land is going.

"I don't  think I anticipated seeing anything like we're seeing happening," he said.

He's just sold a property near I-20 and the lot behind it.

One will be a hotel, another an office space.

It's no coincidence he's selling so fast, it's all a result of what people are calling the next big oil boom.

"We had no way of predicting that this was going to happen," said Morgan.

"I'm glad that I'm a part of it, really excited," said Linebaugh.

Sweetwater is just one of several cities around the Big Country that's included in what's known to as the Cline Shale.

It's an area that's rich in oil, but has remained untapped until now.

"You know, 5 or 10 years ago the technology just was not there," said Ron Wade, CEO of Trail Energy Partners II based out of Grapevine.

And for anyone who's still skeptical about how much it's all going to grow, just ask Morgan.

"Commercial activity has gone through the roof," he said, " I mean, some of those properties have doubled or tripled in price."

All he has to do is take a look out one of his signs to be sold on the fact that this is a sure thing.

A group of business and city leaders as well as other residents have joined together to form the Cline Shale Alliance.

Their next meeting will be in Snyder, in July. 

For more information, click here.
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