Piceance Basin Oil Shale Reserves 50%
Greater Than Previously Estimated

April 3rd, 2009
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Staff Compiled

The Western Slope’s Piceance Basin has even more oil shale than estimated 20 yars ago, according to the U.S. Geological — a whooping 50 percent more.

Yesterday the USGS revised its estimate to roughly 1.5 trillion barrels of in-place oil shale resources. The new estimate came after the agency examined areas in the region that previously had too little information to be included in the original research. How much oil might be recoverable was not part of the projection.

The DOE estimates that the Green River Formation, which includes the Piceance Basin, contains as much as 1.8 trillion barrels of oil shale in place, with about 800 billion barrels of recoveral oil.

Interior Secreatry Ken Salazar responded to the news by saying the new estimate shows the need for research and development. However, his actions in February when he halted plans to expand a program offering leases for oil shale R & D, was criticized by the American Petroleum Institute.

Filed Under: Feature Articles • Western Slope

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