Permian ‘Super Basin’ Holds Up to $3.3 Trillion in Untapped Oil
- IHS Markit analyzed data from more than 440,000 crude wells
- Additional oil zones may be uncovered as analysis continues
Harold Hamm Says EIA Shale Forecast Is 'Flat Wrong'
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The Permian Basin of Texas and New Mexico holds 60 billion to 70 billion barrels of yet-to-be pumped crude oil, according to a study by IHS Markit Ltd.
The Permian region’s so-called recoverable resources would be enough to supply every refinery in the U.S. for 12 years and have a market value of about $3.3 trillion at current prices for West Texas Intermediate oil, the domestic benchmark.