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The largest oil deposit ever found in America was just discovered in Texas

(Source: www.businessinsider.sg)

The US Geological Survey (USGS) said Tuesday that it discovered what could be the largest deposit of untapped oil ever discovered in America. 244 more words

Money Matters

Shale oil in Permian’s Wolfcamp formation called biggest field in U.S.

From the Star-Telegram

BY JOE CARROLL

In a troubled oil world, the Permian Basin is the gift that keeps on giving.

One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels of oil trapped in four layers of shale beneath West Texas. 365 more words

Economy

The largest oil deposit ever found in the U.S. was just discovered in Texas

The US Geological Survey said Tuesday that it found what could be the largest deposit of untapped oil ever discovered in America.An estimated average of 20 billion barrels of oil and 1.6 billion barrels of natural gas liquids are available for the taking in the Wolfcamp shale, which is in the Midland Basin portion of Texas’ Permian Basin.Based on a West Texas Intermediate crude oil price of $45 per barrel, those deposits are worth about $900 billion.US oil exploration companies have flocked to the superrich Permian Basin in recent years and used shale-drilling technology to create an oil boom that simultaneously helped trigger a price crash two years ago. 115 more words

Permian

The largest oil deposit ever found in America was just discovered in Texas

(Source: www.businessinsider.sg)

The US Geological Survey (USGS) said Tuesday that it discovered what could be the largest deposit of untapped oil ever discovered in America. 244 more words

Money Matters

EOG cuts losses to $190 million, doubles Permian oil estimates | Fuel Fix

EOG Resources cut losses in the third quarter, like many other E&P companies.  The oil exploration firm also said that it was doubling the amount of oil and gas it thought it could recover from the Permian Basin. 101 more words

Permian

​Merit Energy wraps up nearly $1 billion capital raise - Dallas Business Journal

Merit Energy Partners has completed a $938 million equity raise this month, according to regulatory filings from the Dallas oil and gas investor.The latest Form D filed by the firm on Oct. 17 more words

Permian