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 include discovered reserves in its estimates. The USGS also does not include reserves that have already been produced. Finally, the USGS does not include resources that might become technologically recoverable in the future but are not presently recoverable.
One advantage of USGS oil and gas assessments is that they are based on a publicly available methodology that is used for all oil and gas assessments. This methodology makes it so that our assumptions and methods can be seen and examined, and the fact that we use the methodology for all of our assessments means each assessment can be compared to the others in an apples-to-apples comparison.
Learn more: USGS Energy Assessments
Related Content
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
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
Can the oil and gas that the USGS assesses be produced today?
USGS oil and gas assessments are for technically recoverable resources, meaning they can be produced using today’s technology and standard industry practices. However, our assessments do not look at what infrastructure would be required to produce these resources, nor does it look at whether it would be profitable to produce them. In addition, USGS assessments are for undiscovered resources, which...
How do the USGS and Bureau of Ocean Energy Management (BOEM) divide up which areas to be assessed for Oil and Gas Resources?
The USGS is responsible for oil and gas assessments onshore and in state waters (up to 3 miles offshore), while the Bureau of Ocean Energy Management (BOEM) assesses energy resources in the Federal offshore waters and the outer continental shelf. 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...
Related Content
- FAQ
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
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
Can the oil and gas that the USGS assesses be produced today?
USGS oil and gas assessments are for technically recoverable resources, meaning they can be produced using today’s technology and standard industry practices. However, our assessments do not look at what infrastructure would be required to produce these resources, nor does it look at whether it would be profitable to produce them. In addition, USGS assessments are for undiscovered resources, which...
How do the USGS and Bureau of Ocean Energy Management (BOEM) divide up which areas to be assessed for Oil and Gas Resources?
The USGS is responsible for oil and gas assessments onshore and in state waters (up to 3 miles offshore), while the Bureau of Ocean Energy Management (BOEM) assesses energy resources in the Federal offshore waters and the outer continental shelf. 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...
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