Consol Energy turns focus to Utica dry gas
Friday, June 24, 2016
Pittsburgh Business Times reports that Consol Energy is shifting its focus toward the Utica shale dry gas and away from the Marcellus shale wet gas.
Consol has not yet started drilling again in Ohio, Pennsylvania and West Virginia, as commodity prices are still low, but the company may begin drilling again later this year.
According to the source, Consol owns five of 10 of the top producing Utica gas wells, according to the most recent quarterly production data.
Read more: Pittsburgh Business Times > Consol puts focus on dry Utica play as wet-gas prices decline
Recent Consol news:
- Consol Energy reports first quarter loss – April 27, 2016
- Consol cuts 2016 natural gas budget – Jan. 11, 2016
- Utica Shale may become focus of some Marcellus drillers – Nov. 3, 2015
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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.