Feds Call West Texas Deposit ‘Largest’ in History
A western Texas oil and natural gas shale formation was labeled the “largest” of its kind by the U.S. Geological Survey on Tuesday.
Federal surveyors announced that the Wolfcamp shale in the Midland Basin portion of Texas’ Permian Basin now holds the record for most oil, natural gas, and gas liquid deposits that are “undiscovered, technically recoverable resources.”
The USGS notes that within its survey spanning from north of Lubbock to remote regions southwest of San Angelo, an estimated and previously unaccounted for 20 billion barrels of crude oil; 16 trillion cubic feet of natural gas; and 1.6 billion barrels of natural gas liquids are able to be extracted by means typically involving slant drilling and hydraulic fracturing, commonly known as “fracking”. The figures are based on official methods that project untapped resources amid formations already surveyed and exploited.
"The previous discovery record dates back to 2013 for North Dakota’s Bakken-Three Forks oil accumulation. Texas’ latest discovery dwarfs the northern high plains state by a factor of three."
http://www.breitbart.com/texas/2016/11/ ... t-history/
No need for 'keystone'....this is gonna be canada's 'millstone'. Which is safer? a thousand mile pipeline or a two hundred mile one...? Cheaper?
Big Oil
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callmeslick
- Posts: 16473
- Joined: Wed Jul 29, 2009 9:02 pm
- Location: Fearing and loathing in Delaware and Virginia.
Re: Big Oil
just be careful getting it out, or you'll join Oklahoma in the New Earthquake Zone. Good news for the transition period we're all going to be going through. I keep trying to tell Enviro-Types that the transition is a decade or two. They don't really dig that, but reality is healthy.