http://www.worldoil.com WorldOil California’s Monterey shale holds 21 MMbbl of recoverable oil: USGS http://www.worldoil.com/news/2015/10/06/california-s-monterey-shale-holds-21-mmbbl-of-recoverable-oil-usgs The Monterey formation in the deepest parts of California’s San Joaquin basin contains estimated mean volumes of 21 MMbbl of oil, 27 Bcf of gas and 1 MMbbl of NGL, according to the first USGS assessment of unconventional, technically recoverable resources in the Monterey formation.