Permian's Delaware Basin 2x bigger than Midland, USGS survey says

|About: EOG Resources, Inc. (EOG)|By:, SA News Editor

The Permian’s Delaware Basin, the less drilled part of the giant oil field, holds more than 2x the amount of crude as its Midland Basin sister field, according to new data from the U.S. Geological Service.

The Delaware's Wolfcamp Shale and Bone Spring rock formations hold an estimated 46.3B barrels, the assessment says, and holds 281T cf of natural gas, ~18x the amount in the Midland Basin.

The Midland and Delaware estimates are the USGS’s “largest continuous oil and gas assessments ever released,” says director Dr. Jim Reilly, and consists of “undiscovered, technically recoverable resources.”

Permian producers include EOG, PXD, LPI, FANG, SN, COG, CRZO, CXO, RSPP, DVN, NFX, OXY, CVX, XOM, NBL, APC, APA, WPX, CDEV, REN, EGN, JAG, AXAS, HK, MCF, XEC, PE, SM, MTDR, QEP, AR

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