Title : Permian "Super Basin" Holds Up To $3.3 Trillion In Untapped Oil -- Bloomberg -- September 25, 2017
link : Permian "Super Basin" Holds Up To $3.3 Trillion In Untapped Oil -- Bloomberg -- September 25, 2017
Permian "Super Basin" Holds Up To $3.3 Trillion In Untapped Oil -- Bloomberg -- September 25, 2017
Data points:- Permian Basin, Texas and New Mexico: 60 billion to 70 billion bbls of yet-to-be-pumped crude oil
- enough to supply every refinery in the US for 12 years
- $3.3 trillion market value at current prices
- three-year study (so the data is already a bit old)
- based on data from more than 400,000 wells
- the estimate may grow as IHS geologists extend their analysis to deeper zones
- the assessment may boost Pioneer's assertion that the Permian is a 75-billion-bbl field that may rival Saudi Arabi's massive Ghawar field
- in November, 2016, the USGS estimated that just one layer of the Permian -- the Wolfcamp -- holds 20 billion bbls of crude (recoverable)
Thus Article Permian "Super Basin" Holds Up To $3.3 Trillion In Untapped Oil -- Bloomberg -- September 25, 2017
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