DOI says new USGS study finds 'significant' undiscovered oil, gas

In a statement posted on its website recently, the U.S. Department of the Interior (DOI) announced the release of a new U.S. Geological Survey (USGS) assessment “identifying significant undiscovered, technically recoverable oil and gas resources in the Mowry Composite Total Petroleum System”.

The DOI noted in the statement that the assessment estimates the presence of 473 million barrels of oil. Moreover, it is 27 trillion cubic feet of natural gas. It pointed out that these are resources “that could help bolster domestic energy supply and fuel local economies”.

A fact sheet posted on the USGS website stated that the USGS “assessed undiscovered, technically recoverable conventional and continuous (unconventional) oil and gas resources in the Early to Late Cretaceous (Albian to Coniacian) Mowry Composite Total Petroleum System (TPS) in the Southwestern Wyoming Province in Wyoming, Colorado, and Utah”.

In its statement, the DOI noted that, since exploration began in the 1950s, the Mowry Composite system has produced approximately 7.3 trillion cubic feet of natural gas and 90 million barrels of oil.

The DOI pointed out in its statement that the USGS previously assessed undiscovered energy resources in the Mowry Composite Total Petroleum System in 2005. It added that the Southwestern Wyoming Geologic Province, where the Mowry is located, “also produces abundant additional oil and gas from other formations, such as the Lance Formation, Lewis Shale, and the Mesa Verde Group”. None of these are accounted for in the latest USGS assessment, the DOI highlighted.

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Source: Rigzone

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