May 22, 2025 (MarketLine via COMTEX) --
The findings estimate around 473mbbl of oil and 27tcf of natural gas, with resources extending into Colorado and Utah.
The US Department of the Interior (DOI) has released a new assessment by the US Geological Survey (USGS) highlighting significant undiscovered, technically recoverable oil and gas resources in the Mowry Composite Total Petroleum System in south-western Wyoming.
The findings estimate around 473 million barrels (mbbl) of oil and 27 trillion cubic feet (tcf) of natural gas, with resources extending into Colorado and Utah.
Since the 1950s, the Mowry Composite system, which includes the Dakota Sandstone, Muddy Sandstone, Mowry Shale and Frontier Formation, has yielded approximately 7.3tcf of natural gas and 90mbbl of oil.
The current assessment builds on previous studies including a 2005 evaluation, and does not account for additional oil and gas from other formations such as the Lance Formation, Lewis Shale and Mesa Verde Group.
Secretary of the Interior Doug Burgum said: aEURoeThis new USGS assessment underscores the role of American energy resources in strengthening our energy independence and driving economic development across the West.
aEURoePublic lands in south-western Wyoming hold significant potential, and this science-based evaluation provides critical data to help inform responsible resource management. We Map, Baby, Map to provide updated estimates of recoverable oil and gas and equip decision-makers, communities and industry with the knowledge they need to support job creation, domestic energy production and long-term economic growth.aEUR A
The USGS began oil and gas assessments 50 years ago following an oil embargo that underscored the importance of understanding undiscovered resources.
These assessments are designed to provide actionable insights for US leaders, federal agencies, industry and the public.
They inform policymakers about resource potential and guide land-use and resource management plans for agencies such as the Bureau of Land Management.
Acting USGS Director Sarah Ryker said: aEURoeUSGS energy assessments typically focus on undiscovered resources aEUR" areas where science tells us there may be a resource that industry hasnaEUR(TM)t discovered yet.
aEURoeIn this case, our assessment found substantial undiscovered, technically recoverable oil and gas resources.aEUR A
For the private sector, the USGS assessments offer a framework for detailed exploration planning.
The range of assessments has evolved with advancements in technology, including unconventional, technically recoverable resources, since 1995.
In addition to the onshore assessment, the DOI is revising the Bureau of Ocean Energy ManagementaEUR(TM)s 2024 Risk Management and Financial Assurance for Outer Continental Shelf Lease and Grant Obligations Rule.
This revision aims to reduce costs and regulatory burdens for Gulf of Mexico oil and gas producers, while safeguarding US taxpayers from decommissioning liabilities.
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COMTEX_465703575/2227/2025-05-22T09:35:00
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