HUGE DEPOSIT OF UNTAPPED OIL COULD BE LARGEST EVER DISCOVERED IN US

A HUGE DEPOSIT OF UNTAPPED OIL, POSSIBLY THE LARGEST EVER DISCOVERED IN THE US, HAS BEEN IDENTIFIED BY THE US GEOLOGICAL SURVEY USGS IN WEST TEXAS.

HUGE DEPOSIT OF UNTAPPED OIL COULD BE LARGEST EVER DISCOVERED IN US

The area also includes 16tn cubic feet of natural gas and 1.6bn barrel of natural gas liquids.
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.
A recent rush to open up the Permian Basin has helped push oil prices down, with this and other woes causing the US oil industry to lose $67bn last year.

A huge deposit of untapped oil, possibly the largest ever discovered in the US, has been identified by the US Geological Survey (USGS) in west Texas. The USGS estimated that 20bn barrels of oil was contained within layers of...

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Article ID: 117058 Date: 17th November, 2016 Social Shares: 3652
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