US Wolfcamp shale: the largest potential basin ever assessed

US Geological Survey (USGS) assessed that the Wolfcamp shale and overlying Bone Spring formation in the Delaware basin portion of Texas and New Mexico contains 46.3 billion bbl of oil, 281 tcf of natural gas, and 20 billion bbl of natural gas liquids. This is the first assessment of continuous resources 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.