While operators in the Rockies unconventional plays added to the U.S. rig count this past week, the Eagle Ford Shale lost 10 rigs. Meanwhile, the Permian Basin RRC Dist. 7C lost four rigs and Dist. 8 added five.
Proven geological reserves are estimated at more than 1 billion tonnes shale oil, Xinhua reported June 20.
The latest preliminary estimates from exploratory wells showed volumes between 60 million and 135 million barrels of recoverable oil equivalents, Vaar said in a statement.