The Mancos Shale formation in New Mexico has the potential to become the site of the next major oil boom in the U.S., observers say. The play, located in the San Juan Basin, could contain approximately 1.8 billion barrels of oil in recoverable reserves, said former Sen. Pete Domenici. "We have the technology to make a run to recover a huge part of it. Hydraulic fracturing and horizontal drilling have unlocked a tremendous amount of resources," he said.

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