Wednesday, November 16, 2016

Permian’s Wolfcamp formation called biggest shale oil field in U.S.

Via Billy

Big oil discoveries in shale formations have made the Permian Basin in West Texas the hottest oil play in the U.S. despite low oil prices.

In a troubled oil world, the Permian Basin is the gift that keeps on giving.

One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels of oil trapped in four layers of shale beneath West Texas. That’s almost three times larger than North Dakota’s Bakken play and the single largest U.S. unconventional crude accumulation ever assessed, according to the U.S. Geological Survey. At current prices, that oil is worth almost $900 billion.


Read more here: http://www.star-telegram.com/news/business/article114931993.html#storylink=cpyMore @ Star-Telegram
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4 comments:

  1. BadgerNovember 16, 2016 at 9:49 PM

    Most oil reserves ever. I remember by now the world was to be out of oil. Didn't one of the networks make a TV movie, something like the the day the oil stopped. It showed the horrid future for America if we didn't go solar and wind and stop using oil. And now more oil than we have had.

    Badger

    ReplyDelete
    Replies
    1. Brock TownsendNovember 16, 2016 at 9:51 PM

      Just love it, like 'Global Warming'! Calling Al Gore........:) What a blithering idiot!

      Delete
  2. SunwolfNCNovember 16, 2016 at 10:53 PM

    Time to tell OPEC to shove it...
    .90 gas coming right up.

    ReplyDelete

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