Revision raises Piceance estimate by 525 billion barrels

04/3/2009 | Denver Post, The · American City Business Journals

The U.S. Geological Survey has revised a 1989 assessment of oil-shale reserves in Colorado's Piceance Basin, increasing its estimate by more than 50%. The department said the region may hold up to 1.525 trillion barrels of oil, although it did not estimate how much of that might be recoverable. The American Petroleum Institute said the revised Piceance estimate is an example of why it was disappointed by Interior Secretary Ken Salazar's decision not to expand a program offering leases for oil-shale research and development.

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Denver Post, The · American City Business Journals

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