A new discovery by the USGS shows an area of the Permian Basin has billions of barrels of oil.

According to NewsWest 9, the discovery has the potential to yield billions of barrels of natural gas liquids along with 16 trillion cubic feet of natural gas.

What this means for the Permian Basin is an increase of local production in the future.

Oil prices are still low but this could give our local economy a nice shot in the arm.

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