Replies

To: EternalVigilance

I think the oil they pull out of the various oil fields in the permian basin will be a lot more than even the most optimistic views today.

3 posted on 09/23/2013 9:41:15 PM PDT by ckilmer

I suspect you’re right.

4 posted on 09/23/2013 9:42:16 PM PDT by EternalVigilance (The GOP establishment is like a dodo bird: Not too bright and on its way to extinction.)

I think the oil they pull out of the various oil fields in the permian basin will be a lot more than even the most optimistic views today.

I hope you are right.

5 posted on 09/23/2013 10:03:14 PM PDT by Mark17 (It is every liberal's job to destroy America, and every conservative's job to stop him.)

I think the oil they pull out of the various oil fields in the permian basin will be a lot more than even the most optimistic views today

That could well be. USGS estimates tend to be conservative, simply because scientific credibility is at stake and putting an overly optimistic estimate would hurt that.

Consider, though the USGS estimates of the Bakken, and later the Bakken/Three Forks reserves have doubled more than once and will likely increase even more as time goes by.

For the Williston Basin (where the Bakken Formation is found), though, this is just a couple of fifteen known oil bearing formations (not to mention the Winnipeg and Deadwood gas sands). Not all are as amenable to large scale horizontal drilling (production is more localized), but there is a lot more oil yet to be produced.

6 posted on 09/23/2013 11:37:53 PM PDT by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing.)

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794