Hydraulic fracturing gains efficiency in 2016
Friday, December 23, 2016
This year shows improved practices across drilling, completion, well performance, well placing and well economics, according to Oil & Gas Financial Journal. All key metrics — drilling speed, propping per stage and EUR per well — have increased across the main shale plays. Additionally, operators have improved well performance every year for the last five years.
The trend of efficiency is expected to continue in all aspects of drilling, but 2016 saw a lot of improvements. With the increase of newer, more efficient rigs, drilling speed has increased nearly 800 feet per day nationwide. The average length of shale wells has increased as well, with the exception of the Bakken play. Completion intensity led to higher recovery volumes per well.
The combination of increased efficiency, lower unit well costs and high grading over the course of the last two years has led to 47 percent lower breakeven prices on average.
Learn more: Oil & Gas Financial Journal > Improved Drilling, Completion and Breakeven Price
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
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.