The USGS announced its largest-ever oil and gas assessment last week, and it's enough oil to send 56,000 supertankers to Asia and other customers around the world. It also broke the record set by the Midland Basin in 2016.

The USGS estimates the Wolfcamp Shale and Bone Spring formations in the Delaware contain 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas and 20 billion barrels of natural gas liquids. This estimate covers the area’s undiscovered technically recoverable resources, like previous USGS assessments.

This assessment covers many formations, and it the total of estimates for the upper and lower Avalon, first second and third Bone Spring, and Wolfcamp A, upper and lower B, C and D. USGS estimates the Wolf...


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