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Piceance basin oil-shale study finds 1.5 trillion bbl in place

08/30/2010
By Nick Snow
An estimated 1.5 trillion bbl of oil in place lies in Western Colorado's Piceance basin oil shale, the US Geological Survey said in the first comprehensive assessment published since 1989. The amount represents a 50% jump from the previous 1 trillion bbl of oil in place estimate because about twice as many oil yield data points were used, USGS added in a new report.Even at the previous 1 trillion bbl estimate, the Piceance represented the largest oil shale deposit in the world."Almost all of this increase is due to (1) new areas being assessed that had too little data in the previous assessment, and (2) new intervals being assessed that were not assessed previously," it said. Mu...
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