Arkansas stands to reap billions of dollars as a result of the Fayetteville Shale play, according to Pickering Energy Partners President Dan Pickering. A University of Arkansas study estimated an economic impact of $2.3 billion, the creation of 10,000 jobs and more than $100 million in taxes all by 2008. Pickering said that this estimate may be conservative.

Pickering estimated that at a rate of 50 rigs exhausting 10 wells yearly, the industry hits about $1 billion yearly, not including other services associated with drilling that could multiply the number two or three times. That rate could continue for 25 years on Southwestern Energy’s property, Pickering said.

While the land grab is largely over, those looking for investment opportunities should consider companies that supply the drilling companies involved in the shale play, and should also pay attention to the success of Southwestern Energy, the frontrunner in the Fayetteville Shale play.