the big formations in the USA are all on private lands the feds don’t control. The big ramp up in production is happening despite the best efforts of the admin to throttle it.
Big growth in the last several years has come the Baaken/Three Fork formation in North Dakota and Montana as well as the Eagle Ford formation in south Texas. But there are a dozen or more smaller fields around the USA that are ramping up production because of fracking. Some mega oil fields in the permian basin of west texas are expected to come onstream in the next year or two. the field there that’s generating the most buzz — is the cline shale formation.
I am so happy to hear this, and it doesn’t bother me in the least if these guys are making profits hand over fists.