American Energy Partners founder sees value in Utica
Wednesday, September 10, 2014
Columbus Business First reports that at least one company’s investment in the Utica Shale will continue.
Aubrey McClendon, the founder of American Energy Partners LP and founder and former CEO of Chesapeake Energy, stated his approval of the Utica shale’s potential at a recent conference.
From Columbus Business First:
“‘In our view, pound per pound, it’s the best gas rock in the U.S.,’” McClendon said Thursday at a Dallas energy conference.”
Via: Columbus Business First > Aubrey McClendon calls Utica shale play ‘extraordinary’ at Dallas Energy conference
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.