Geological Survey Uncovers Over 1 Billion Barrels of Oil In Texas

Great news for the oil and gas sector as a recent United States Geological Survey of previously undiscovered gas and oil in and around the Texas Permian Basin has resulted in locating enough oil to fuel the entire nation for months.

Oil Discovery in Texas

According to a report from FOX7Austin, the gas and oil discovery, measured in billions of barrels, is located in the Woodford and Barnett shale. To date, that area has only produced about a day's worth of oil. This discovery, is huge compared to that. According to the report, there is enough gas to supply the United State for 10 months and enough oil for 10 weeks.

The Woodford and Barnett shales, which stretch from the Permian Basin to southeastern New Mexico, have produced about 26 million barrels of oil since the late 90s, the USGS said — or enough oil for one day of U.S. consumption.

READ MORE: Texas Oil Production Booms

According to FOX7Austin, due to the depth of the deposits, it was impossible to get to them before the more advanced production technology that we have today.

It goes to show that Texas still has a lot of oil and undiscovered resources just waiting to be found.