Thursday, November 17, 2016

America Just Discovered the Largest Oil Deposit Ever Found in Texas...

The Elevation Resources drilling rig is shown at the Permian Basin drilling site in Andrews County, Texas, U.S. on May 16, 2016. REUTERS/Ann Saphir/File Photo


  Largest deposit of untapped oil ever has been discovered in America according to the US Geological Survey on Tuesday.

An estimated average of 20 billion barrels of oil and 1.6 billion barrels of natural gas liquids are available for the taking in the Wolfcamp shale, which is in the Midland Basin portion of Texas' Permian Basin.

"The fact that this is the largest assessment of continuous oil we have ever done just goes to show that, even in areas that have produced billions of barrels of oil, there is still the potential to find billions more," Walter Guidroz, program coordinator for the USGS Energy Resources Program, said in a statement


More than 3,000 horizontal oil wells have already been drilled and completed in the Midland Basin Wolfcamp section, according to the USGS. To get the oil, producers fracture, or "frack," the earth below with a high-pressure liquid mixture to untap oil and gas from shale rock.
This map from the USGS shows the area where the deposit was found:
Midland Basin Map USGS

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