How much technically recoverable oil and gas does the US Geological Survey estimate remains in the Buda Limestone format

The U.S. Geological Survey’s most recent assessment estimates that the Buda Limestone formation contains 12 million barrels of oil and 184 billion cubic feet of natural gas in undiscovered, technically recoverable conventional resources [2] [4] [23]. That’s the amount that could be brought to the surface using current technology and standard industry practices.

For comparison, the same formation has already produced about 204 million barrels of oil and 287 billion cubic feet of gas since production began around 1930 [9] [14] [22].

That means the remaining undiscovered oil is a very small fraction of what’s already been extracted. Specifically, the 12 million barrels of technically recoverable oil represent less than 6% of the formation’s cumulative oil production [12]. In other words, for every 100 barrels the Buda has given us over the decades, fewer than 6 barrels are still waiting to be found and recovered. The remaining gas is also modest compared to past output.

The USGS director put it plainly, noting the Buda Limestone “has little remaining undiscovered oil or gas” [10] [11] [20].