May 21 (Reuters) - A new federal assessment has identified significant undiscovered, technically recoverable oil and gas resources in parts of Wyoming, Utah and Colorado, the U.S. Interior Department said on Wednesday.
WHY IT'S IMPORTANT
The resources identified by the U.S. Geological Survey in what is known as the Mowry Composite Total Petroleum System could bolster domestic energy supplies, aligning with the Trump administration's agenda to boost drilling and mining on public lands. The Mowry Composite TPS covers most of southwestern Wyoming and small portions of Utah and Colorado.
KEY QUOTE
"This new USGS assessment underscores the role of American energy resources in strengthening our energy independence and driving economic development across the West," Interior Secretary Doug Burgum said in a statement.
CONTEXT
The push for increased drilling and mining on public lands is part of President Donald Trump's broader strategy to reduce regulatory barriers to domestic fossil fuel and metals production.
BY THE NUMBERS
The assessment estimates the presence of 473 million barrels of oil and 27 trillion cubic feet of natural gas. The Mowry Composite system has produced approximately 7.3 trillion cubic feet of natural gas and 90 million barrels of oil since exploration began in the 1950s.
WHAT'S NEXT
The results of the assessment can help inform future land use and resource management plans by the Bureau of Land Management, which oversees energy development on federal lands.
(Reporting by Nichola Groom; Editing by Leslie Adler)
((nichola.groom@thomsonreuters.com;))
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