According to the UK exploration company, Oil & Gas Investments, a major oil reserv has been recently discoveres very close to Gatwick Airport in West Sussex. The discovery news caused both excitement as well as some sceptisism by industry experts with regards to the exloitability of the reserve, while environmentalists express their own concerns over the impact to the local ecosystem.
Last week, the Apache Corporation revealed its new shale deposit in West Texas, calling it Alpine High. Current estimates show the deposit to be worth over $8 billion, containing over three billion barrels of oil and 75 trillion cubic feet of natural gas.
According to United States Geological Survey (USGS), Wolfcamp Shale and overlying Bone Spring Formation in the Delaware Basin part of Texas and New Mexico's Permian Basin province contain a vast quantity of continuous oil and natural gas resources.
Two sinkholes in west Texas near the town of Wink are growing rapidly according to a study by Southern Methodist University led by professor Zhong Lu and researcher Jin-Woo Kim. The first sinkhole formed in 1980 and the second in 2002. Both are believed to be originally caused by extensive oil and gas extraction in the region from the 1920's through the 1960's.