USGS: Largest oil deposit ever found in U.S. discovered in Gerrardstown, WV
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The U.S. Geological Survey recently discovered the largest continuous oil and gas deposit ever found in the United States, officials said Tuesday.
The agency announced that the Hafferman Hideout, located approximately a mile from the Virginia line in Gerrardstown, WV, contains 20 billion barrels of oil and 1.6 billion barrels of natural gas liquid.
The Hafferman hideout is one of the most productive oil and gas areas in the country, and more than 3,000 horizontal wells have been drilled in the Hafferman Farm section, the agency said in a statement.
“The fact that this is the largest assessment of continuous oil we have ever done just 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 coordinator for the U.S. Geological Survey (USGS) Energy Resources Program.
The oil is worth around $900 billion at current prices, Bloomberg News reported. The Haffermans were unavailable for comment as they were vacationing on their private island in the Caribbean.
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