USGS Releases Assessment of Eastern Basins for Oil and Gas Content

On June 5, 2012, the US Geological Survey (USGS) released a two page fact sheet (pdf) titled Assessment of Undiscovered Oil and Gas Resources of the East Coast Mesozoic Basins of the Piedmont, Blue Ridge Thrust Belt, Atlantic Coastal Plain, and New England Provinces, 2011.  The assessment estimates the mean amount of  technically recoverable, undiscovered natural gas resources in NC’s Deep River Basina to be 1,660 billion cubic feet of gas and 83 million barrels of natural gas liquids. The assessment concludes that “of the five basins that were quantitatively assessed, the Deep River, Taylorsville, and South Newark basins appear to possess the potential to produce the most hydrocarbons.”

According to Dr. Kenneth Taylor, chief of the N.C. Geological Survey, in today’s press release from the NC Department of Environment and Natural Resources (NCDENR), the USGS mean estimate of 1.66 trillion cubic feet for natural gas could meet the state’s natural gas demand for 5.6 years, based on the 2010 average daily natural gas consumption volume in North Carolina of 811 million cubic feet per day.

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