Because of the marriage of hydrofracking and horizontal drilling, the world is now awash in unconventional, but recoverable oil and gas.
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The US Geological Survey estimates that the Arctic has around a quarter of the world's undiscovered and recoverable oil and gas reserves.
But in 2008 the U.S. Geological Survey announced to great fanfare that the formation likely held 4.3 billion barrels of recoverable oil and gas equivalents.
New finds in the Wattenberg Field north of Denver alone could contain more than a billion barrels of recoverable oil and natural gas, essentially matching the huge Eagle Ford or the Bakken Field in western North Dakota.
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Indeed, it does appear at first glance that the kinds of shale deposits that contain recoverable gas and oil are very large.
Most resource base projections are based on the oil and gas that is recoverable with current technology.
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In addition to the jobs produced by those drilling for natural gas and oil in now recoverable shale formations, there are the additional thousands of jobs produced by the need for the manufacturing and laying of pipelines, and the building or refurbishing of refineries.
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According to a United States Geological Survey, the Levant Basin, shared by Lebanon, Israel and Cyprus, offers up about 122 trillion cubic feet in recoverable gas and an estimated 1.7 billion barrels of oil.
The U.S. Geological Survey estimates more than 90 billion barrels of oil and nearly 1, 700 trillion cubic feet of natural gas may be recoverable.
The U.S. Geological Survey estimates more than 90 billion barrels of oil and nearly 1, 700 trillion cubic feet of natural gas may be recoverable by drilling.
The U.S. Geological Survey estimates more than 90 billion barrels of oil and nearly 1, 700 trillion cubic feet of natural gas may be recoverable by drilling in the North Slope area.
With trillions of cubic feet of natural gas, and potentially as much as 250 billion barrels of recoverable shale oil, Israel may be on the verge of joining the wealthiest Arab states as a world class energy producer.
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