Montage Resources will cut capital spending by 44% in 2020
Thursday, February 13, 2020
Montage Resources will cut capital spending by 44% this year in the Appalachian Basin, according to Kallanish Energy.
The company plans on spending between $190 million and $210 million on capital spending. That estimate is down from the $357.5 million it recorded spending in the midpoint of 2019’s capital spending guidance.
Montage Resources will be focusing on development in Monroe County, Ohio, drilling a majority of its wells in the Marcellus Shale and the remainder in Utica Shale dry gas window in that region.
Learn more: Kallanish Energy > Montage to cut capital spending by 44% in 2020
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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.