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More than 50% of the United States oil reserves come in the form of unconventional shale oil, with Texas alone containing 60 million barrels of this type of fossil fuel.
The total equity value of U.S. energy exploration and production companies, including shale oil and gas, was $650 billion, as of April 30, Bloomberg data show. Figure 6 below shows that equity offerings by U.S. oil and gas exploration and. production companies reached a new record in the first quarter of this year.