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Permian’s Wolfcamp formation called biggest shale oil field in U.S.; Big jobs coming to LA & TX
Topic Started: Nov 16 2016, 05:02 PM (188 Views)
dcbl
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Good guys wear white hats
Permian’s Wolfcamp formation called biggest shale oil field in U.S.

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. That’s almost three times larger than North Dakota’s Bakken play and the single largest U.S. unconventional crude accumulation ever assessed, according to the U.S. Geological Survey. At current prices, that oil is worth almost $900 billion.
Republicans sign checks on the front, democrats sign them on the back…True story!
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dcbl
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Good guys wear white hats
An older article - TX paper

Quote:
 
An oil company might have just made one of the biggest energy discoveries in the past decade, finding a new field in West Texas that contains about three billion (yes, billion) barrels of oil and 75 trillion (yes, trillion) cubic feet of natural gas, according to the Houston Chronicle. Apparently, Houston-based Apache Corporation hit the jackpot in the western Permian Basin near the Davis Mountains. Apache is calling the new play “Alpine High.” The company started scooping up land in the area two years ago, and now owns about 300,000 acres—or, as the Wall Street Journal puts it, an area roughly twenty times the size of Manhattan—and the discovery could yield anywhere from $8 billion dollars to as much as $80 billion.
Republicans sign checks on the front, democrats sign them on the back…True story!
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George Aligator
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These oil fields will contribute to global climate change and air pollution but at least they won't do much damage to the local area as west TX and OK are already largely uninhabitable wasteland.
Conservatism is a social disease
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