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USGS Estimates Size of Wolfcamp

On November 15, 2016, the U.S. Geological Survey estimated that the Wolfcamp shale in the Permian Basin contains 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.6 billion barrels of natural gas liquids.  The USGS estimate makes the Wolfcamp shale the largest estimated continuous oil accumulation found in the United States. 

USGS estimated the size of the Wolfcamp as part of a nationwide project designed to assess domestic petroleum basins using standardized methodology and protocol.  USGS estimates continuous oil based upon undiscovered, technically recoverable resources.  The Wolfcamp is part of the Wolfberry play near Midland, Texas, which has seen a resurgence of activity since the advent of hydraulic fracturing.