lightninboy said:I think here's where I heard it:
Secrets (Volume 178)
Friday, June 3, 2011
Texe Marrs examines things the controlled media dare not report: 3) Huge new oil field find in Texas proves once again that America has no shortage of oil;
Texe Marrs says there's enough oil in the U.S.A. to make every citizen a millionaire if it was divided up.
Black gold boom: Texas prepares to drill 3,000 oil wells in a YEAR that could deliver major boost for U.S. economy
For experts believe that the astonishing finds in 20 new onshore oil fields could, together, increase the country's oil output by 25 per cent in just ten years.
The Texas field, also known as Eagle Ford, is one of the 20 and more than a dozen companies plan to drill 3,000 wells over the next 12 months in Catarina, South Texas.
Just five years ago the oil fields were considered useless. But then an engineer discovered that oil could be extracted in the same way as natural gas - through a process of hydraulic fracturing - and U.S. oil giant EOG bought thousands of acres of land in Texas.
we have found three of the world's biggest oil fields in the last three years right here in the US? How transformative could that be for the U.S. economy?'
Drillers believe that the oil fields will be able to produce up to three million barrels a day by 2020, from their current half a million barrels output.
Despite having its first well drilled just three years ago, The Eagle Ford is already making 100,000 barrels a day and could reach 420,000 by 2015.
The oil fields have transformed Texas with house prices doubling as a result of the oil boom and unemployment is down by a half.
Further north in North Dakota, the Bakken field is now producing 400,000 barrels a day after discovering a trickle just four years ago.
Much of the area has been an oilfield for over eighty years and there is a lot of experience with regulation and inspection of new wells. Existing pipelines and oil refineries close by will make this major new American oil discovery highly profitable for those companies who have already leased up land to drill on
While geologists have known about many of these rock formations, such as the Eagle Ford shale in South Texas, and recognized they hold massive amounts of crude, it was only recently that oil exploration companies developed a method to extract it. Oil exploration companies are now able to extract oil and gas from shale using a technology called directional or horizontal drilling, in conjunction with hydraulic fracturing.
sixth largest discovery of crude oil in American history. This significant find, which rivals the Bakken Formation of North Dakota, and ranks up there with the Permian Basin and the North Slope, is located south of San Antonio Texas along a wide belt stretching from the Mexico border to near East Texas. It is the largest American oil discovery in over forty years, yet it has hardly even made the local news
The Eagle Ford shale could hold somewhere between 2 to 8 billion barrels of recoverable oil, (or more if more efficient recovery methods are developed),
"How Much Oil Is There In The Eagle Ford Shale?" Any amount over 5.1 billion barrels would make it the largest oilfield in the U.S., while anything over 3.1 billion barrels would make the Eagle Ford shale bigger than all of the discoveries in deepwater offshore combined.
with potentially more natural gas than all of the Barnett Shale formation combined. The Barnett is one of the largest natural gas discoveries to date and holds somewhere around 2.5 trillion cubic feet of natural gas. Estimating the natural gas potential of the Eagle Ford shale is more difficult since much of it is "liquid rich" and contains high volumes of condensate. Petrohawk Energy reports that one field alone, the Hawkville Field, consisting of 228,000 acres, may hold 51 trillion cubic feet of equivalent natural gas (when condensate is figured in).
Just for fun, if you take an area of roughly three LaSalle counties in the oil and condensate window of the Eagle Ford shale, or 2,870,400 acres, and multiply that number by the average barrels per acre that has been proposed by EOG and Petrohawk, or 1,646 barrels of recoverable crude (net after royalty), per acre, and multiply that by 2,870,400, you get
4,724,678,400 barrels of oil. That's about 4.7 billion barrels, or roughly twice the size of the massive Bakken shale in North Dakota.
hypocritexposer said:allow a pipeline, or 2, to be built, we will ship you all the oil you need. Better hurry though, we're setting up the infrastructure to sell what you don't want to China and the East
Oil reserves in Canada were estimated at 179 billion barrels
Last year, a Chevron-led consortium announced the discovery of the Jack field, 270 miles off Louisiana. It may hold 15 billion barrels, which would more than double domestic reserves
Last week, Chevron/Statoil ASA/Devon announced that the Jack field in the Gulf of Mexico was successfully tapped. The test well is flowing at the maximum 6,000 bbl/day rate. The oil is light and sweet. Initial speculation is that the untapped fields around Jack have economically recoverable reserves of 3 billion to 15 billion barrels.
the East and West coasts currently under federal moratorium but estimated to hold as much as 19 billion barrels of oil and 86 trillion cu. ft. of natural gas.
Steve said:Last year, a Chevron-led consortium announced the discovery of the Jack field, 270 miles off Louisiana. It may hold 15 billion barrels, which would more than double domestic reserves
Last week, Chevron/Statoil ASA/Devon announced that the Jack field in the Gulf of Mexico was successfully tapped. The test well is flowing at the maximum 6,000 bbl/day rate. The oil is light and sweet. Initial speculation is that the untapped fields around Jack have economically recoverable reserves of 3 billion to 15 billion barrels.
gee this US oil keeps adding up.. where will it end?
the East and West coasts currently under federal moratorium but estimated to hold as much as 19 billion barrels of oil and 86 trillion cu. ft. of natural gas.
Untapped.. banned.. but then it is only 19 billion barrels.. but the thing to remember.. no one is exploring in the off limit areas.. so who knows what is below the federal waters...
They Claim There's No Oil
America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed.
In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951.
The USGS did an initial study back in 1999 that estimated 400 billion recoverable barrels
EOG Resources of Texas started a frenzy when they drilled a single well in Parshal N.D. that is expected to yield 700,000 barrels of oil that real excitement and money started to flow in North Dakota. Marathon Oil is investing $1.5 billion and drilling 300 new wells in what is expected to be one of the greatest booms in Oil discovery since Oil was discovered in Saudi Arabia in 1938.
if 200 billion barrels of oil at $90 a barrel are recovered in the high plains the added wealth to the US economy would be $18 Trillion Dollars which would go a long way in stabilizing the US trade deficit and could cut the cost of oil in half in the long run.
The Energy Information Administration (EIA) estimates it at 503 billion barrels.
That's enough crude to fully fuel the American economy for 2041 years straight.
Steve said:If Obama took the time to get out in the fields I listed and talk up energy.. we would start seeing a recovery..
