USGS has announced that it has discovered 20 billion barrels of oil and 16 trillion cubic feet of natural gas at an area known as Wolfcamp. The company also claims the deposit in West Texas is the largest continuous oil and gas deposit ever discovered within the U.S.
The discovery "goes to show that, even in areas that have produced billions of barrels of oil, there is still the potential to find billions more," said Walter Guidroz, program director of the USGS Energy Resources Program.
Several analysts are predicting the discovery could lead to a resurgence of the oil and gas industry in Texas.
Click here to view roles that are currently available across the Oil and Gas sector.