An estimated 20 billion barrels of oil were discovered in the Midland area.
It’s more recoverable oil than previously thought.
A local oil expert said this will be beneficial for generations to come – and it could mean more jobs in several industries.
“You’re going to have real estate values go up. The people that are in retail and, as well, in the oil and gas business and banking business should benefit greatly from it,” Cactus Schroeder, CEO of Chisolm Exploration, said.
We’re told this is a 50 to 100-year supply of oil and natural gas.