USGS releases assessment of undiscovered oil and gas resources in Bossier Formation of Gulf Coast

RESTON, Va. — The U.S. Geological Survey released its assessment of undiscovered gas and oil in the Bossier Formation along the Gulf Coast, assessing that there are technically recoverable resources of 343.5 trillion cubic feet of gas – enough to supply the United States for more than 10 years at the current rate of consumption -- as well as 3 million barrels of oil.