The USGS estimated that 20bn barrels of oil was contained within layers of shale in the Permian Basin, a vast geological formation that stretches across western Texas and an area of New Mexico. The discovery is three times larger than the Bakken oilfields of North Dakota and is worth around $900bn.The enormous deposit, in the Midland Basin Wolfcamp shale area that includes the cities of Lubbock and Midland in Texas, is the largest continuous oilfield ever discovered by the USGS. The area also includes 16tn cubic feet of natural gas and 1.6bn barrel of natural gas liquids."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," said Walter Guidroz, program coordinator for the USGS energy resources program.
Yeah I saw that. Makes me wonder what the fuck they think they can do with it.
How did they not already know about this huge deposit?
Read the source-the U.S. Geological Survey. The USGS did an assessment of the undiscovered, technically recoverable resources of the Wolfcamp shale in the Permian basin."Undiscovered" means what it says-it has not been discovered. It's an estimate, an educated guess. "Technically recoverable resources" means the oil that could be produced if cost didn't matter.
It does make me wonder about Colorado though. Iirc, it has one of the largest in volume shale formations in the world and it has lots of oil in it. Is there already lots of fracking going on there? Paging MikeS. How big is/are the Colorado deposits?
Thanks. I wonder what fracking does to the water table on a mountain range.
The depth to the water table of the Ogallala Aquifer varies from actual surface discharge to over 150 meters (500 feet). Generally, the aquifer is found from 15 to 90 meters (50 to 300 feet) below the land surface. The saturated thickness also varies greatly.
The Floridan aquifer is found beneath all of Florida and portions of Alabama, Georgia and South Carolina, and extends into the Gulf of Mexico and the Atlantic Ocean. The Floridan aquifer averages 1,000 feet thick, and freshwater can extend to a depth of 2,000 feet below land surface.