United States Identifies 29 Billion Barrels Untapped Through New Technologies

New U.S. estimates reveal nearly 29 billion barrels of oil and 392 Tcf of technically recoverable natural gas on federal lands, marking significant progress since the last assessment in 1998.

Share:

According to the latest report from the United States Geological Survey (USGS), U.S. federal lands contain approximately 29 billion barrels of technically recoverable, yet undiscovered oil, along with nearly 391.5 trillion cubic feet (Tcf) of natural gas. These new figures, published on June 18, 2025, represent a significant increase compared to previous estimates from 1998, which had identified only 7.86 billion barrels of oil and 201.1 Tcf of natural gas. The USGS attributes this substantial rise to technological advancements achieved over recent decades, particularly in extracting unconventional hydrocarbons. Among these are shale oil, tight oil, tight gas, and coalbed methane gas, none of which were considered in prior assessments.

Regional Distribution of Resources

The report highlights an uneven geographical distribution of oil resources. Alaska alone holds 14 billion barrels, nearly half the total national estimate. New Mexico, primarily via the Permian Basin, contains approximately 8.9 billion barrels, while Nevada accounts for about 1 billion barrels. Significant volumes also exist in Wyoming (988 million barrels), Texas (916 million), Utah (771 million), and North Dakota (512 million).

Regarding natural gas, Alaska and the Permian Basin also stand out as the two primary regions. Alaska alone contains an estimated 111 Tcf of undiscovered natural gas, while the Permian Basin holds 58.5 Tcf. Colorado and Wyoming each hold substantial resources as well, with 60 Tcf and 57 Tcf respectively, mainly concentrated in tight gas formations. The Uinta-Piceance Basin, located between northeastern Utah and northwestern Colorado, also contains a noteworthy 55 Tcf, followed by the San Juan Basin with 29 Tcf.

Technological Advances Since the Shale Revolution

The major change since 1998 largely stems from the shale revolution that began in the early 2000s. Advances in horizontal drilling and hydraulic fracturing techniques significantly enhanced operators’ capabilities to identify and exploit previously inaccessible resources. Alicia Lindauer, coordinator of the Energy Resources Program at USGS, notes these resources, if developed, could cover U.S. oil needs for four years and natural gas needs for twelve years at current consumption rates. This development clearly underscores the evolution of the American energy sector, both technologically and economically.

Petro-Victory Energy announces the completion of drilling operations for the AND-5 well in the Andorinha field, Brazil, with positive reservoir results and next steps for production.
The Colombian prosecutor’s office has seized two offices belonging to the oil company Perenco in Bogotá. The company is accused of financing the United Self-Defense Forces of Colombia (AUC) in exchange for security services between 1997 and 2005.
Indonesia has signed a memorandum of understanding with the United States to increase its energy imports. This deal, involving Pertamina, aims to diversify the country's energy supply sources.
VAALCO Energy continues to operate the Baobab field by renovating its floating platform, despite modest production. This strategy aims to maintain stable profitability at low cost.
An empty reservoir exploded at a Lukoil-Perm oil facility in Russia, causing no injuries according to initial assessments pointing to a chemical reaction with oxygen as the cause of the accident.
The British Lindsey refinery has resumed fuel deliveries after reaching a temporary agreement to continue operations, while the future of this strategic site remains under insolvency proceedings.
BP and Shell intensify their commitments in Libya with new agreements aimed at revitalizing major oil field production, amid persistent instability but rising output in recent months.
The private OCP pipeline has resumed operations in Ecuador following an interruption caused by heavy rains, while the main SOTE pipeline remains shut down, continuing to impact oil exports from the South American country.
McDermott secures contract worth up to $50 million with BRAVA Energia to install subsea equipment on the Papa-Terra and Atlanta oil fields off the Brazilian coast.
Saudi Aramco increases its oil prices for Asia beyond initial expectations, reflecting strategic adjustments related to OPEC+ production and regional geopolitical uncertainties, with potential implications for Asian markets.
A bulk carrier operated by a Greek company sailing under a Liberian flag suffered a coordinated attack involving small arms and explosive drones, prompting an Israeli military response against Yemen's Houthis.
The Canadian government is now awaiting a concrete private-sector proposal to develop a new oil pipeline connecting Alberta to the Pacific coast, following recent legislation intended to expedite energy projects.
Petrobras is exploring various strategies for its Polo Bahia oil hub, including potentially selling it, as current profitability is challenged by oil prices around $65 per barrel.
Brazilian producer Azevedo & Travassos will issue new shares to buy Petro-Victory and its forty-nine concessions, consolidating its onshore presence while taking on net debt of about USD39.5mn.
Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.
Lindsey refinery could halt operations within three weeks due to limited crude oil reserves, according to a recent analysis by energy consultancy Wood Mackenzie, highlighting an immediate slowdown in production.
The flow of crude between the Hamada field and the Zawiya refinery has resumed after emergency repairs, illustrating the mounting pressure on Libya’s ageing pipeline network that threatens the stability of domestic supply.
Libreville is intensifying the promotion of deep-water blocks, still seventy-two % unexplored, to offset the two hundred thousand barrels-per-day production drop recorded last year, according to GlobalData.
The African Export-Import Bank extends the Nigerian oil company’s facility, providing room to accelerate drilling and modernisation by 2029 as international lenders scale back hydrocarbon exposure.
Petronas begins a three-well exploratory drilling campaign offshore Suriname, deploying a Noble rig after securing an environmental permit and closely collaborating with state-owned company Staatsolie.