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Geology | Government & Regulatory

Delaware Permian Holds Twice as Much as the Midland ; 46.3 Billion Barrels of Oil

Thursday,December 06,2018

The USGS is at it again.  U.S. Department of the Interior announced the Wolfcamp Shale and overlying Bone Spring Formation in the Delaware Basin portion of Texas and New Mexico's Permian Basin province contain an estimated mean of 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas, and 20 billion barrels of natural gas liquids.

Combined with the Midland Basin, the Permian now has some 66.3 Billion barrels of oil.

 

 

"Christmas came a few weeks early this year," said U.S. Secretary of the Interior Ryan Zinke. "American strength flows from American energy, and as it turns out, we have a lot of American energy. Before this assessment came down, I was bullish on oil and gas production in the United States. Now, I know for a fact that American energy dominance is within our grasp as a nation."

This happens to be more than twice of the Midland Basin Wolfcamp that the company assessed last year at 20 billion barrels of oil.  Read more here.

 

 



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