United States geological survey (USGS) reported the discovery in the West Texas, the largest untapped deposits of oil and gas in the entire history of the country, reports RIA “Novosti”</u>.
According to Ministry’s estimates, the recoverable oil reserves of the field Wolfcamp shale in the Permian basin in Texas, on average, 20 billion barrels of oil, 16 trillion cubic meters of natural gas and 1.6 billion barrels of gas condensate.
The Agency Bloomberg estimates these reserves at 900 billion dollars.
Reserves of the Permian basin in Texas is three times larger than was discovered in 2013 on the formation Bakken-Three Forks. This makes the field the largest in the history of the United States.
In a press release quoted the coordinator of the USGS energy resources program Walter Gerosa: “the Opening of this field indicates that even in those areas where already extract billions of barrels of oil that there are opportunities for production of greater volumes.”
According to officials, previously unexplored fields become available for exploitation due to new technologies, so throughout the United States are under constant revaluation reserves.