Chron reports that the U.S. Geological Survey has released a new assessment of the Buda Limestone, a long-producing formation in Texas. The federal agency estimates that the formation still contains about 12 million barrels of technically recoverable oil and 184 billion cubic feet of natural gas that have not yet been discovered.
The assessed area includes portions of South and East Texas, with activity centered west and southwest of Houston and extending toward the East Texas Basin. According to the report, the Buda Limestone has already produced roughly 204 million barrels of oil and 287 billion cubic feet of natural gas since production began around 1930.
For mineral owners, operators, and investors, the assessment provides updated context on remaining resource potential in a mature Texas formation. Chron noted that the newly identified volumes are smaller than estimates for major areas such as the Permian Basin, but they still add to the broader picture of U.S. oil and gas resource development.
Source: Chron
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