Wednesday, December 28th, 2016 and is filed under Uncategorized
Per a new assessment by the US Geological Survey, the Wolfcamp shale formation in the Midland basin section of the Permian Basin contains approximately 20 billion barrels of oil. Twenty billion barrels makes the Wolfcamp shale the largest deposit of continuous oil ever discovered in America. And even a West Texas Intermediate crude oil price of $50 per barrel would make these deposits worth around $1 trillion – that’s trillion with a “t”.
“The fact that this is the largest assessment of continuous oil we have ever done just goes to show that, even in areas that have produced billions of barrels of oil, there is still the potential to find billions more,” said Walter Guidroz, program coordinator for the USGS Energy Resources Program. “Changes in technology and industry practices can have significant effects on what resources are technically recoverable, and that’s why we continue to perform resource assessments throughout the United States, and the world.”
To give perspective to the Wolfcamp estimates, they are almost three times larger than those of the 2013 US Geological Survey (USGS) Bakken-Three Forks resource assessment and almost 19 times that of the USGS 2012 estimate of continuous oil in place for the Eagle Ford Shale area. To add further perspective, the Prudhoe Bay formation on the North Slope of Alaska, the largest producing oil field to date in the United States, has produced 12 billion barrels of oil over the last 43 years.
2017 is shaping up to be a good year for the oil and gas industry.
What if a targeted $25,000 investment could net you over $20,200 in applicable tax deductions for a single year? What if $100,000 could deliver over $82,800 of the same?
That’s the power of direct oil and gas investing––one of the most tax-advantaged investment options available in the market today. Eagle Natural Resources specializes in pairing high net worth individuals – just like you – with highly vetted, industry-grade oil & gas investment opportunities that can help lighten your tax load…while delivering solid return potential for years to come.
If you are looking to lower your 2016 tax burden, our current offering delivers what you need.
Ponderosa Drilling Program
Gaines County, Texas in the Permian Basin
The Ponderosa Drilling Program offers the opportunity to enjoy not only significant – and ongoing – tax write-offs, but multiple return on your investment potential in one of the country’s hottest shale plays. Our drilling prospects are located in the heart of the Permian Basin, targeting the Strawn formation and the Wolfcamp, which was just announced by the U.S. Geological Survey as the largest estimate of continuous oil ever assessed in the United States.