Probably not. In 2000, the USGS assessed undiscovered, technically recoverable oil and gas resources in Saudi Arabia at 87 billion barrels (USGS 2000 World Petroleum Assessment) compared to a mean estimate of 4.3 billion barrels of undiscovered, technically recoverable continuous oil in the Bakken and Three Forks formations (USGS 2021 Bakken and Three Forks Assessment). In addition, Saudi Arabia contains even more oil that has already been found, which is reported by the U.S. Energy Information Administration as current proven oil reserves.
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What are "technically recoverable" oil and gas resources?
“Technically recoverable” means that the oil and/or gas can be produced using currently available technology and industry practices. This is regardless of any economic or accessibility considerations. For example, the technology required to produce oil from a location might exist, but it costs more than the oil is worth. The oil is still technically recoverable. Learn more: USGS Energy Assessments...
How is hydraulic fracturing related to earthquakes and tremors?
Reports of hydraulic fracturing causing felt earthquakes are extremely rare. However, wastewater produced by wells that were hydraulic fractured can cause “induced” earthquakes when it is injected into deep wastewater wells. Wastewater disposal wells operate for longer durations and inject much more fluid than the hydraulic fracturing operations. Wastewater injection can raise pressure levels in...
Why does the USGS decide to reassess oil and gas formations?
The USGS regularly re-examines our assessments to see if updated information warrants a reassessment. Sometimes more information is available either from USGS research or industry production, and the USGS decides to conduct a new assessment. Learn more: USGS Energy Assessments
Why do USGS oil and gas resource assessments differ from other oil and gas assessments from other agencies or industry?
This question cannot be answered clearly because the methods used by those organizations to estimate oil and gas resource volumes are often not publicly available to compare step-by-step. One common reason different organizations get different results is based on what the assessments include. USGS estimates are for undiscovered, technically recoverable oil and gas resources. The USGS does not...
What is the difference between assessed oil and gas “resources” and “reserves”?
“Reserves” are quantities of oil and gas that are already discovered, recoverable, and commercial. Domestic reserves are tracked by the U.S. Energy Information Administration. The USGS assesses “undiscovered, technically recoverable resources,” which are those that are estimated to exist based on geologic knowledge and theory. Learn more: USGS Energy Resource Assessments
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- FAQ
What are "technically recoverable" oil and gas resources?
“Technically recoverable” means that the oil and/or gas can be produced using currently available technology and industry practices. This is regardless of any economic or accessibility considerations. For example, the technology required to produce oil from a location might exist, but it costs more than the oil is worth. The oil is still technically recoverable. Learn more: USGS Energy Assessments...
How is hydraulic fracturing related to earthquakes and tremors?
Reports of hydraulic fracturing causing felt earthquakes are extremely rare. However, wastewater produced by wells that were hydraulic fractured can cause “induced” earthquakes when it is injected into deep wastewater wells. Wastewater disposal wells operate for longer durations and inject much more fluid than the hydraulic fracturing operations. Wastewater injection can raise pressure levels in...
Why does the USGS decide to reassess oil and gas formations?
The USGS regularly re-examines our assessments to see if updated information warrants a reassessment. Sometimes more information is available either from USGS research or industry production, and the USGS decides to conduct a new assessment. Learn more: USGS Energy Assessments
Why do USGS oil and gas resource assessments differ from other oil and gas assessments from other agencies or industry?
This question cannot be answered clearly because the methods used by those organizations to estimate oil and gas resource volumes are often not publicly available to compare step-by-step. One common reason different organizations get different results is based on what the assessments include. USGS estimates are for undiscovered, technically recoverable oil and gas resources. The USGS does not...
What is the difference between assessed oil and gas “resources” and “reserves”?
“Reserves” are quantities of oil and gas that are already discovered, recoverable, and commercial. Domestic reserves are tracked by the U.S. Energy Information Administration. The USGS assesses “undiscovered, technically recoverable resources,” which are those that are estimated to exist based on geologic knowledge and theory. Learn more: USGS Energy Resource Assessments
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