Two formations hold 4 billion barrels of oil, 2 billion barrels of NGLs: USGS
On April 13th, the U.S. Geological Survey ( USGS ) released what it calls "the largest continuous natural gas assessment it has yet conducted" - a new resource update  for two southern U.S. gas plays:

The Bossier and Haynesville formations of the onshore and State waters portion of the U.S. Gulf Coast contain estimated means of 4.0 billion barrels of oil, 304.4 trillion cubic feet of natural gas, and 1.9 billion barrels of natural gas liquids, according to updated...

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