East Texas oil field finds huge new reserves
Tyler Morning Telegraph:
As far back as 1911, geologists predicted that significant mineral wealth lay below East Texas, in what was then called the Woodbine Stratum — a formation above the Haynesville Shale.The fossil fuel energy revolution continues to improve the chances of recovering oil and gas. This has a positive outcome for Texas, but the US as a whole as we finnally reach energy independence and prove Democrats were dead wrong when they said you could not drill your way to cheaper oil and gas.
In 1930, Columbus Marion "Dad" Joiner proved them right when the Daisy Bradford No. 3 well struck oil just outside Henderson in western Rusk County. It was really just a drill stem test — they weren't expecting to hit anything. But at 3,592 feet, Joiner tapped into what was for years thought to be the largest oil and gas reserves in the world.
But no one predicted the vastness of the energy wealth available here.
In April, the U.S. Geological Survey announced a re-evaluation of the Haynesville and Bossier shale formations.
Instead of the previously estimated 61.4 trillion cubic feet of natural gas available (as of 2011), the survey said estimates show there's 304 trillion cubic feet.
"These estimates, the largest continuous natural gas assessment USGS has yet conducted, include petroleum in both conventional and continuous accumulations, and consist of undiscovered, technically recoverable resources," the survey said.
This is big news for East Texas and the nation as a whole.
The new estimates include better understanding of the underground formations, but also reflect the lengthening reach of improving technology. The Geological Survey measures "recoverable" resources, and the industry is getting better at recovering oil and gas.
"As the USGS revisits many of the oil and gas basins of the United States, we continually find that technological revolutions of the past few years have truly been a game changer in the amount of resources that are technically recoverable," said Walter Guidroz, program coordinator of the survey's Energy Resources Program.