USGS Finds Limited Oil and Gas Potential in Wyoming Basins

The U.S. Geological Survey (USGS) has released a new assessment evaluating upper Paleozoic reservoirs across Wyoming and adjacent states. The study estimates that approximately 47 million barrels of undiscovered, technically recoverable oil remain, alongside 876 billion cubic feet of natural gas. These findings provide essential data for industry stakeholders assessing future exploration opportunities in historically significant production areas.

Declining Potential in Legacy Basins

After nearly a century of oil and gas production, the Wind River, Bighorn, and Powder River basins show diminishing prospects for undiscovered resources. USGS Acting Director Sarah Ryker highlighted that these formations have already produced around 4 billion barrels of oil since large-scale exploration efforts began in the 1920s—equivalent to roughly six months of current U.S. oil consumption.

The assessment focused on five conventional units within these basins, particularly upper Paleozoic reservoirs that gained significant industry attention in the early 20th century. While structural fields in these regions were largely identified by the 1960s, later exploration shifted toward more complex stratigraphic and structural traps, reflecting the evolution of exploration methodologies.

Advances in Resource Assessment Techniques

The USGS has been conducting resource assessments for over 50 years, initially prompted by the oil embargo that underscored the strategic importance of domestic energy reserves. These assessments continue to serve as a critical resource for policymakers, federal agencies, and industry leaders evaluating production potential and global market influences.

According to USGS geologist Christopher Schenk, technological advancements have significantly refined the agency’s approach to resource evaluations. Since 1995, USGS assessments have included unconventional resources classified as technically recoverable, reflecting the impact of horizontal drilling and hydraulic fracturing. The transformation of the Bakken Shale in North Dakota is one example of this shift, evolving from a few hundred vertical wells at the time of initial USGS evaluation to tens of thousands today.

Ongoing Prioritization of Domestic and Global Resource Evaluations

The USGS Energy Resources Program remains committed to assessing undiscovered oil and gas resources in key geological provinces, both within the U.S. and internationally. By employing specialized methodologies tailored to both conventional and unconventional resources, the agency continues to provide industry and government stakeholders with essential data on potential production opportunities and broader market implications.