The U.S. Geological Survey released a report on Wednesday that outlined the potential for undiscovered oil in two formations beneath much of the U.S.

It takes its name from the Permian period – a geological ... transformed into the vast deposits of oil we burn for energy today. The unique sedimentary geology of the Permian Basin is also ...

It dates to the Jurassic geological period and is known for its rich deposits of oil and bromine. In recent years, the Smackover Formation has also gained attention for potential lithium in brines ...