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New Shale Formation in West Texas could Dwarf the Bakken
Oil Price ^
| January 30, 2013
| Charles Kennedy
Posted on 02/03/2013 8:23:34 PM PST by 2ndDivisionVet
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To: 2ndDivisionVet
Wouldn’t that be an OLD formation?
2
posted on
02/03/2013 8:28:24 PM PST
by
Paladin2
To: 2ndDivisionVet
speculative..... pump and dump stock scheme ?
3
posted on
02/03/2013 8:30:25 PM PST
by
mike_9958
To: 2ndDivisionVet
Has China bought up all the land rights yet?
4
posted on
02/03/2013 8:33:27 PM PST
by
Old Flat Toad
(Pima County, home of the single vehicle accident with 40 victims.)
To: 2ndDivisionVet
I have mineral rights to land in that area, and let me assure you this is not a “pump and dump”. There has been a flood of leasing offers and offers to purchase the mineral rights for vast sums of money the past 9 months or so.
5
posted on
02/03/2013 8:34:37 PM PST
by
TexasFreeper2009
(Obama lied .. the economy died.)
To: 2ndDivisionVet
Doesn’t matter.
The EPA is going to shut down fracking anyway.
6
posted on
02/03/2013 8:36:07 PM PST
by
Perkalong
(GOP 2013 = Whigs 1856)
To: 2ndDivisionVet
I hope this is true, but... I can see the government using the resulting tax revenue to pay down the debt, and then beginning a new spending binge.
To: Paladin2
Old and previously inaccessible.
8
posted on
02/03/2013 8:38:51 PM PST
by
RobbyS
(Christus rex.)
To: 2ndDivisionVet
9
posted on
02/03/2013 8:39:14 PM PST
by
relictele
To: 2ndDivisionVet
You can still smell oil in the Permian basin.
10
posted on
02/03/2013 8:39:14 PM PST
by
EternalVigilance
(We still hold these truths to be self-evident.)
To: thackney
11
posted on
02/03/2013 8:39:29 PM PST
by
Army Air Corps
(Four Fried Chickens and a Coke)
To: Perkalong
"The EPA is going to shut down fracking anyway." Will Obama put extra effort into shutting it down because this is Texas, or might he back down because of the same?
12
posted on
02/03/2013 8:44:35 PM PST
by
Baynative
(I'm reading a book about anti-gravity. I can't put it down.)
To: thackney
To: 2ndDivisionVet
Looks like a great time to be in the Republic of Texas. Funny how NY doesn’t even want to touch Marcellus and Utica shale. Two different States of mind.
To: Baynative
“Will Obama put extra effort into shutting it down because this is Texas, or might he back down because of the same?”
President Obama hasn’t really backed down from anything yet, so I don’t see him dropping his commitment to fighting climate change anytime soon regardless of the state.
15
posted on
02/03/2013 8:56:40 PM PST
by
Perkalong
(GOP 2013 = Whigs 1856)
To: St_Thomas_Aquinas
I can see the government using the resulting tax revenue to pay down the debt, and then beginning a new spending binge.
16
posted on
02/03/2013 8:57:38 PM PST
by
Jeff Chandler
(WHAT DIFFERENCE DOES IT MAKE?)
To: 2ndDivisionVet
Devons tests showed that around 3.6 million barrels of oil could be recovered per square mile, and as the Cline formation covers roughly 9,800 square miles it gives an estimated reserve of more than 30 billion barrels. A fair bit more than the 4.3 billion in the Bakken, or the 3 billion barrels in the Eagle Ford plays. Small potatoes....the recently discovered New Monterey Shale in California...runs from San Jose to LA weighs in at 500 Billion barrels.
Both eclipsed by the Green River Formation with 3 Trillion barrels of which over 1 Trillion is recoverable with today's technology.
The Rand Corporation, a nonprofit research organization, estimates that 30 to 60 percent of the oil shale in the Green River Formation can be recovered. At the midpoint of this estimate, almost half of the 3 trillion barrels of oil would be recoverable. This is an amount about equal to the entire world's proven oil reserves. ...
17
posted on
02/03/2013 9:01:59 PM PST
by
spokeshave
(The only people better off today than 4 years ago are the Prisoners at Guantanamo.)
To: Baynative
If he’s as smart as his minions believe, he will make the wise decision not to go up against Governor Rick Perry and Attorney General Greg Abbott on this one.
18
posted on
02/03/2013 9:02:20 PM PST
by
BuckeyeTexan
(There are those that break and bend. I'm the other kind.)
To: St_Thomas_Aquinas
Seriously, ALL of the oil in all of the shale in the US would not begin to pay down our debt.
19
posted on
02/03/2013 9:02:46 PM PST
by
editor-surveyor
(Freepers: Not as smart as I'd hoped they'd be)
To: 2ndDivisionVet
Chairman Maobama must not be allowed to prevent development of these resources.
20
posted on
02/03/2013 9:14:46 PM PST
by
dsc
(Any attempt to move a government to the left is a crime against humanity.)
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