The federal government has discovered a massive new reserve of oil and natural gas in Texas and New Mexico that it says has the “largest continuous oil and gas resource potential ever assessed.”
The Delaware Basin contains an estimated 46 billion barrels of oil, 281 trillion cubic feet of natural gas and 20 billion barrels of natural gas liquids.
Marathon Petroleum Corp. Chairman and CEO Gary Heminger opines on the United States’ place in global energy markets in an interview with CNBC’s Jim Cramer.
Heminger says “we are well on our way” to becoming the world’s leading energy producer.
The CEO also reveals his price target for West Texas Intermediate crude oil in 2019.
