Summit Capital places a stake in oil-rich Eagle Ford Shale
Deep in the south of Texas there is a gold rush in the form of the Eagle Ford Shale, which some are calling one of the largest oil and natural gas fields in the world. Like the Bakken Shale in North Dakota, it has caught the attention of both oil and gas companies, which are pumping billions into extraction operations, and real estate interests, which are looking to build all manner of asset classes to accommodate the human surge.
Budget hotel rooms, which typically rent for less than $50 per night, are costing up to $150 per night, and incoming hotel operators are supposedly being promised two years of advanced room bookings.
Summit Capital, a Texas-based investment firm, has decided it wants in on the action and is investing in a variety of opportunities, ranging from purchasing existing income-producing real estate, as well as placing two large parcels — 68 acres and 22 acres — under c