A recent study by the U. S. Geological Survey (USGS) has revealed significant undiscovered oil and gas reserves in Texas' Permian Basin, specifically in the Woodford and Barnett shales.
• The USGS assessment found approximately 28.3 trillion cubic feet of natural gas and 1.6 billion barrels of crude oil.
• This amount of gas could supply the United States for nearly 10 months, while the oil would last for about 10 weeks at current consumption rates.
• These shale deposits have previously only produced oil equivalent to one day's U. S. consumption since the late 1990s.
• Advances in drilling technology have made it possible to recover these deeper deposits, which were previously inaccessible.
• The discovery is expected to impact the U. S. economy significantly, highlighting the dependence on energy resources.
• Ned Mamula, director of the USGS, emphasized the importance of continued assessment of undiscovered resources in supporting the U. S. energy needs.
The findings from the USGS shed light on the potential of Texas' Permian Basin to supply substantial energy resources for the U. S., underscoring the role of technological advancements in energy exploration. The information confirms the wealth of untapped resources available for future energy needs.
https://www.fox7austin.com/news/geological-survey-texas-uncovers-1-6-billion-barrels-oil
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