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Using a geology based assessment methodology, the U.SGeological Survey estimated undiscovered, technically recoverable mean resources of million barrels of shale oil and billion cubic feet of shale gas in the Mississippian Delle Phosphatic Member of the Woodman Formation in the Eastern Great Basin Province of Nevada, Utah, and Idaho.

Oil and gas production per newly completed well has been flat for yearsLike in the other shale basins, rig counts and drilling activity in the Permian have been declining over the past year amid very low oil and gas pricesRecord high oil and gas production is being maintained by burning through the finite inventory of DUC wells.

These Palaeozoic marine shales and clay rich carbonates offer a new frontier for the shale oil and gas revolution in North AmericaIndeed, the Palaeozoic tectonic history of the Great Basin parallels that of the US east coast, where the Marcellus Shale has been a target of intense exploration and production.

U.Sshale oil and natural gas mapsThe following maps show the drilling history and oil and gas production of selected low permeability, continuous type shale reservoirsSelected geologic characteristics pertinent to occurrence of producible oil and gas resources are also shown when availableU.Sand lower states.

Primary risks and uncertaintiesEagle Ford basin is divided into three sections based on the hydrocarbon contents Oil, gas condensate, and dry gasFrom Northwest to Southeast, the play ranges from SG(API) all the way to around SG(API), the northern sector being the lowest and southern the highest.

The Eagle Ford basin is the third largest shale oil producing region in the US after the Permian and Bakken basinsOil production in the Eagle Ford basin was slightly more than million barrels per day (b d) in January , a continuation of a modest decline since mid and well below the all time high of over million b d in March

Table used for tight oil and Table dry unproved natural gas (shale gas) resource estimate was multiplied by so as to include natural gas plant liquids for an unproved wet natural gas volume, Corrected data inaccuracy in EIA ARI world shale reportSee Attachment A.

down the expenditure for each shale playAll of these shale plays are focused on recovering oil or gas liq uids with the exception of the Marcel lus, where the majority of wells are dry gas com pletionsThe Anadarko Woodford Play is a crude and liquids play in West Central Oklahoma that runs through the Anadarko Basin.

Now that we have learned what a basin is, lets discover how it is tied to the oil and gas industryThe natural resources that the consumer craves in these basins are generally formed the same way, with organisms, sediment, pressure, heat and time.

The US upstream shale purchase is the first by Vencer, which Vitol created last year to acquire mature, producing oil and gas assets in US onshore shale basins"This is an important day for Vencer as it establishes itself as a significant shale producer in the US Lower ," Vitol's Americas head Ben Marshall said in the statement.