Permian oil holdings can be twice as big as we were; think



The US Geological Survey has reviewed the available reservoirs to technology in the Wolfcamp Basket, in the Permian play, to 46.3 billion barrel of delicate material and 281 trillion of natural lock. That's up to 20 billion barrels of more than 16 trillion gas pups in accessible conservation in late 2016.

It is worth noting, however, that the new estimate also incorporates the creation of Ireland that has its potential. comprising part of the Delaware Basin in the Permian. This is the first time this form is included in the assessment of oil and gas resources.

Recognized resources are counted based not only on research and geological results but also at the level of price that can cause the oil and gas to be abolished. The USGS reviewed the earlier this year, so the development of oil prices, especially the West Texas Intermediate, must have largely disappeared, show concern about the growth of a representative growth, which has been constant throughout the year.

The overall national objective of 11.7 million pd last month, high-time and world-class and most advanced. It is the main driver Permian behind this growth. This is the play that will make its & # 39; Most oil and also the fastest growing rate of production: in November, the Permian gave 3.63 million pounds of harm and the Energy Information Administration is expected to rise to 3.695 million pd this month.

So, the Permian is already a star, but now it will be clearer. USGS numbers mean the largest single wave reservoir of oil and gas in the United States and one of the largest in the world. Related: SA is exported to bare oil for its & # 39; first time in 75 years

The Albuquerque Journal said the state's Oil and Gas Association chief said "Even for someone who understands the resources and ability of the Permian Basin, I can not only help it to be amazing with the great deal of what is The USGS is recited. Ryan Flynn said "The Permian resources that New Mexico and Texas share their" making this area one of the world's most important places of oil production. "

Although this is true, this means that there are some problems, so there are concessionary prices because there are not enough pipers to get their products for livestock and export markets. However, these problems are already being addressed and the Permania is likely to not be a problem; climb but prices do not fall down $ 50 barrel for WTI.

Le Irina Slav for Oilprice.com

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