article makes no sense and conflicts with much known production and drilling data.
Won't bore anyone with the details, just look at PXD's information put out on the PERMIAN alone (and within that its really only the Midland Basin).
* >50 BBOE recoverable reserves (approx 75) * EFS estimate is >25 BBOE * Spraberry/Wolfcamp is largest US oil field (by far) * Spraberry/Wolfcamp is 2nd largest oil field in the world trailing Ghawar field in Saudi (~160BBOE)
Other commentary
""Not all resources are created equal," Sieminski said. "It turned out that it is harder to crack the reservoirs and get the oil flowing from the Monterey" than from Bakken or the south Texas formation of Eagle Ford."
"The downgrade does not mean that the oil will not one day be recovered, Sieminski said. Indeed, much of the oil and gas in the Bakken and Marcellus was not always considered recoverable as technology lagged."
