Meet the New Permian, It's Double the Size of the Old One - Bloomberg

Meet the New Permian, It's Double the Size of the Old One - Bloomberg:

The U.S.’s fastest growing oil field may have even more to give.

The Permian’s Delaware Basin, the less drilled part of the giant West Texas and New Mexico oil field, holds more than twice the amount of crude as its sister, the Midland Basin, the U.S. Geological Service said Thursday.

The Wolfcamp Shale and Bone Spring rock formations in the Delaware hold an estimated 46.3 billion barrels, the scientists said in their first assessment of the area. In addition, it holds about 281 trillion cubic feet of natural gas, about 18 times the amount in the Midland Basin, which is more heavily drilled and better known.