A new discovery in the Permian Basin is challenging the narrative that shale oil and gas in the United States is declining. The United States Geological Survey (USGS) has released its assessment of undiscovered gas and oil in the Woodford and Barnett shales in the Permian Basin, assessing that there are technically recoverable resources of 28.3 trillion cubic feet of gas — enough to supply the United States for 10 months at the current rate of consumption — and 1.6 billion barrels of oil, or 10 weeks’ supply.If that doesn’t…
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