Assessment of remaining recoverable oil in selected major oil fields of the Permian Basin, Texas and New Mexico

The U.S. Geological Survey (USGS) recently completed an estimate of technically recoverable, conventional oil in selected oil fields in the Permian Basin in west Texas and southeastern New Mexico. The mean total volume of potential additional oil resources that might be added using improved oil-recovery technologies was estimated to be about 2.7 billion barrels of oil.