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A new report on Thursday by the United States Geological Survey (USGS) discovered the largest continuous oil and gas resources EVER in the Texas and New Mexico Delaware Basin.

Today, the 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, according to an assessment by the U.S. Geological Survey (USGS). This estimate is for continuous (unconventional) oil, and consists of undiscovered, technically recoverable resources.

“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.”

“In the 1980’s, during my time in the petroleum industry, the Permian and similar mature basins were not considered viable for producing large new recoverable resources. Today, thanks to advances in technology, the Permian Basin continues to impress in terms of resource potential. The results of this most recent assessment and that of the Wolfcamp Formation in the Midland Basin in 2016 are our largest continuous oil and gas assessments ever released,” said Dr. Jim Reilly, USGS Director. “Knowing where these resources are located and how much exists is crucial to ensuring both our energy independence and energy dominance.”

Although the USGS has previously assessed conventional oil and gas resources in the Permian Basin province, this is the first assessment of continuous resources in the Wolfcamp shale and Bone Spring Formation in the Delaware Basin portion of the Permian. Oil and gas companies are currently producing oil here using both traditional vertical well technology and horizontal drilling and hydraulic fracturing.

https://www.thegatewaypundit.com/2018/12...are-basin/

Guest

you think this is good news for Americans?


the Saudi Arabians own 100% of America refineries.only the CEOs will see a benefit. with Saudi Arabia owning all America's gas it will never be America first


https://money.cnn.com/2017/05/01/investi...index.html

 May 1, 2017

America's largest oil refinery is now fully owned by Saudi Arabia.

Saudi Aramco, the kingdom's state-owned oil behemoth, took 100% control of the sprawling Port Arthur refinery in Texas on Monday,
The interesting part is WHY did the USGS just now announce this, IT has been KNOWN for years by the oil companies and stated many times, there is some other reason behind this announcement! and I doubt it is for our good!
(12-07-2018, 03:03 PM)Apache54 Wrote: [ -> ]The interesting part is WHY did the USGS just now announce this, IT has been KNOWN for years by the oil companies and stated many times, there is some other reason behind this announcement! and I doubt it is for our good!

Government agencies, always ten years behind on what's going on.
(12-07-2018, 03:05 PM)WNC Wrote: [ -> ]
(12-07-2018, 03:03 PM)Apache54 Wrote: [ -> ]The interesting part is WHY did the USGS just now announce this, IT has been KNOWN for years by the oil companies and stated many times, there is some other reason behind this announcement! and I doubt it is for our good!

Government agencies, always ten years behind on what's going on.

That is true, but I think this announcement it will have more to do with allowing more drilling, as most people whom don't know about this stuff will look at this a major break thru.
(12-07-2018, 03:09 PM)Apache54 Wrote: [ -> ]
(12-07-2018, 03:05 PM)WNC Wrote: [ -> ]
(12-07-2018, 03:03 PM)Apache54 Wrote: [ -> ]The interesting part is WHY did the USGS just now announce this, IT has been KNOWN for years by the oil companies and stated many times, there is some other reason behind this announcement! and I doubt it is for our good!

Government agencies, always ten years behind on what's going on.

That is true, but I think this announcement it will have more to do with allowing more drilling, as most people whom don't know about this stuff will look at this a major break thru.

I hope so, the oil industry creates a lot of well paying jobs.
(12-07-2018, 03:03 PM)Apache54 Wrote: [ -> ]The interesting part is WHY did the USGS just now announce this, IT has been KNOWN for years by the oil companies and stated many times, there is some other reason behind this announcement! and I doubt it is for our good!

I like a conspiratorial mind. I wonder if it has something to do with the Saudis and Muslim Brotherhood corpse. Maybe we stop buying all ME oil.

Or this that just happened today...

Oil Prices Jump After OPEC Agrees To Bigger-Than-Expected Production Cut

Ignoring pressure from President Trump to keep the oil flowing, OPEC, Russia and other producers have agreed to cut production. They pledged to pare output by 1.2 million barrels a day, hoping to stem a sharp drop in oil prices.

The price of crude jumped nearly 4.5 percent Friday morning, to $53.75 per barrel, on word of the agreement, which called for a bigger reduction than analysts had expected.


https://www.npr.org/2018/12/07/674516992...uction-cut
(12-07-2018, 06:44 PM)FlyoverCountry Wrote: [ -> ]
(12-07-2018, 03:03 PM)Apache54 Wrote: [ -> ]The interesting part is WHY did the USGS just now announce this, IT has been KNOWN for years by the oil companies and stated many times, there is some other reason behind this announcement! and I doubt it is for our good!

I like a conspiratorial mind.  I wonder if it has something to do with the Saudis and  Muslim Brotherhood corpse.  Maybe we stop buying all ME oil.  

Or this that just happened today...

Oil Prices Jump After OPEC Agrees To Bigger-Than-Expected Production Cut

Ignoring pressure from President Trump to keep the oil flowing, OPEC, Russia and other producers have agreed to cut production. They pledged to pare output by 1.2 million barrels a day, hoping to stem a sharp drop in oil prices.

The price of crude jumped nearly 4.5 percent Friday morning, to $53.75 per barrel, on word of the agreement, which called for a bigger reduction than analysts had expected.


https://www.npr.org/2018/12/07/674516992...uction-cut

I am sure it has to do with getting more public mindset behind allowing more home drilling,
(12-07-2018, 03:03 PM)Apache54 Wrote: [ -> ]The interesting part is WHY did the USGS just now announce this, IT has been KNOWN for years by the oil companies and stated many times, there is some other reason behind this announcement! and I doubt it is for our good!

I worked at a uranium mine (in the office) in the late 70's.

There was a geology lab that I was working in and saw many maps of NM. They knew then that there was huge amounts of oil and gas there. I KNOW because I saw it on the maps. There is also a great deal of raw uranium in NM that hasn't been tapped. They went to other states to mine the stuff and let the law suits die down or the people that worked in them to die off.
(12-07-2018, 06:49 PM)WhiteAngel Wrote: [ -> ]
(12-07-2018, 03:03 PM)Apache54 Wrote: [ -> ]The interesting part is WHY did the USGS just now announce this, IT has been KNOWN for years by the oil companies and stated many times, there is some other reason behind this announcement! and I doubt it is for our good!

I worked at a uranium mine (in the office) in the late 70's.

There was a geology lab that I was working in and saw many maps of NM.  They knew then that there was huge amounts of oil and gas there.  I KNOW because I saw it on the maps.  There is also a great deal of raw uranium in NM that hasn't been tapped.  They went to other states to mine the stuff and let the law suits die down or the people that worked in them to die off.

I knew a few oil men from NM, and they knew about the oil/gas, and one that i know of knows about a small mountain in NM/Texas border area that is FULL of Rare Earth minerals, they have kept a certain amount of this under wraps for a long time now.
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