JUST IN: Largest Reserve of Oil in 30 Years Found In…

Pat Fink, a member of the Alaska delegation, shows her support for more oil drilling during the Republican National Convention at the Xcel Energy Center in St. Paul, Minnesota, Tuesday, September 2, 2008. (Photo by Brian Baer/Sacramento Bee/MCT via Getty Images)

American oil producers are making big moves in Alaska after a monumental oil discovery.

Oil industry companies Repsol and Armstrong Energy Corporation have claimed they found “the largest U.S. onshore oil discovery in 30 years, located in Alaska’s North Slope.”

The announcement was following the results of tests conducted through this past winter season.

Per Fox Business:

The Repsol discovery follows the revelation of what geologists believe is the largest shale oil play in the country.

Companies are quickly looking to make the most of the findings:

American oil producers, including Exxon Mobil (XOM) and Noble Energy (NBL), have sought to increase their bets on the Permian, one of the hottest production regions in the U.S. Exxon will pay as much as $6.6 billion for 275,000 acres of land in the Permian, doubling the company’s estimated resources in the Texas oil play.

This discovery could result in job creation and energy independence.

34 COMMENTS

  1. Is Arctic National Wildlife Refuge (ANWR) open for business?
    Donald Trump didn’t tweet about this discovery. That’s weird.

  2. I’m confused……… it talks about “the largest U.S. onshore oil discovery in 30 years, located in Alaska’s North Slope.” then “Exxon will pay as much as $6.6 billion for 275,000 acres of land in the Permian, doubling the company’s estimated resources in the Texas oil play.”

    The Permian Basin is in West Texas and you can see that their land acquisitions are in Texas. So how does that relate to Alaska??

      • No. The article was about the find in Alaska. After starting out in that vein, it veered sharply to talk about Texas??? Nothing to do with the headline or first part of the story about the Alaska find!

          • What’s wrong. I did not come back with an opinion you did not agree with? That is why you cannot come up with an intelligent response?
            Apparently you did not want an answer to your question. Only a chance to attack the messenger without having the guts to address the message.

          • Well, bless your heart!! Discretion is the better part of valor, as I have always been told. You stated your opinion and I chose not to disagree or argue with you over it. I can get quite pedantic at times but chose not too in this case. As far as an “attack” it is obvious that you did not see the little smiley face emoticon. In the event that you thought I was being passive-aggressive, I wasn’t.

            This post, however, may be construed as slightly sarcastic!

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