USGS: NEW ASSESSMENT OF BOSSIER AND HAYNESVILLE FORMATIONS
The Bossier and Haynesville Formations of the onshore and State waters portion of the U.S. Gulf Coast contain estimated means of 4.0 billion barrels of oil, 304.4 trillion cubic feet of natural gas, and 1.9 billion barrels of natural gas liquids, according to updated assessments by the U.S. Geological Survey. These estimates, the largest continuous natural gas assessment USGS has yet conducted, include petroleum in both conventional and continuous accumulations, and consist of undiscovered, technically recoverable resources.
The Bossier and Haynesville Formations lie within the Gulf Coast Basin, which extends from the Texas-Mexico border in the west to the Florida Panhandle in the east. The Bossier Formation is estimated to contain means of 2.9 billion barrels of oil, 108.6 trillion cubic feet of natural gas, and 1.0 billion barrels of natural gas liquids, while the Haynesville Formation is estimated to contain a mean of 1.1 billion barrels of oil, 195.8 trillion cubic feet of natural gas, and 0.9 billion barrels of natural gas liquids.
Prior to this report, the USGS assessed the Bossier and Haynesville Formations in a 2010 assessment of Jurassic and Cretaceous rocks of the Gulf Coast. At that time, the Bossier was estimated to contain a mean of 9.0 trillion cubic feet of natural gas, while the Haynesville was estimated to contain 61.4 trillion cubic feet of natural gas.
The Bossier and Haynesville Formations have long been known to contain oil and gas, but it wasn’t until 2008 that production of the continuous resources really got underway in East Texas and North Louisiana, the primary production areas for the two formations. (Source: USGS – Image: USGS crew near Waco, Tx / S. Paxton)
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