The U.S. Geological Survey said a new assessment shows the Permian Basin in Texas contains an estimated 1.6 billion barrels of undiscovered, technically recoverable oil and 28.3 trillion cubic feet of natural gas in the Woodford and Barnett shale formations. The findings highlight major untapped energy potential deep beneath West Texas and southeastern New Mexico. According to the USGS, the two formations could also yield about 813 million barrels of natural gas liquids. At current consumption levels, the oil alone would supply the United States for roughly 10 weeks, while the natural gas could meet national demand for about 10...