A new assessment has identified millions of barrels of oil and billions of cubic feet of natural gas in northwest Colorado and southwest Wyoming.
The United States Geological Survey (USGS) reported the discovery in the Phosphoria Total Petroleum System, which has produced oil and gas since around 1920. Over the past century, the system has yielded about 500 million barrels of oil and 2.5 trillion cubic feet of natural gas.
The latest estimate includes roughly 3 million barrels of oil and 666 billion cubic feet of recoverable natural gas. However, USGS officials noted the system may be nearing depletion.
“USGS energy assessments typically focus on undiscovered resources – areas where science tells us there may be a resource that industry hasn’t discovered yet. In this case, after 100 years of production, we estimate the Phosphoria Total Petroleum System has relatively little remaining oil and more than 600 billion cubic feet of gas,” said Sarah Ryker, acting director of the USGS.
Despite the decline, other nearby formations such as the Lance Formation, Lewis Shale, and the Mesaverde Group continue to produce abundant oil and gas, according to the USGS.
This article has been carefully fact-checked by our editorial team to ensure accuracy and eliminate any misleading information. We are committed to maintaining the highest standards of integrity in our content.
Katie is a senior who has been on staff for three years. Her favorite type of stories to write is reviews and features. Katie’s favorite ice cream flavor is strawberry.
Leave a Reply