Chevron to sell Appalachian oil and gas business
Monday, December 16, 2019
Last week, Chevron Corp. announced plans to put its Appalachian oil and gas business up for sale, according to the Pittsburgh Post-Gazette.
The California-based energy company has about 400 employees in the unit and regional office in Coraopolis, Pennsylvania, and controls about 890,000 acres in the Marcellus and Utica shales across Pennsylvania, West Virginia and Ohio.
Chevron’s Appalachian shale operations contributed to more than half of a $10 to $11 billion impairment charge that the company revealed for the fourth quarter.
Learn more: Pittsburgh Post-Gazette > Chevron plans to leave Appalachia, following the footsteps of other giants
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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.