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California weighs up tight-oil potential

California is emerging as the next front in the tight oil boom, and could outpaceTexas and North Dakota as the leading contributor to US production growth. A 2012 Energy Information Administration (EIA) assessment of North American unconventional oil and gas resources suggests California holds 15.4 billion barrels of oil equivalent (boe), which equates to about 64% of the US’ known tight oil and natural gas reserves of 23.9 billion boe. This figure compares to 3.59 billion boe for the Bakken and 3.35 billion boe in the Eagle Ford, according to the report by international energy consultants Intek. Further studies by the US Geological Survey (USGS) predict the Monterey/Santos shales could yiel

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