Oil prices fall, but drilling won’t slow down
Friday, October 24, 2014
The Intelligencer & Wheeling News Register reports that even though oil prices are down to $82.75 per barrel, shale drilling isn’t expected to slow down.
$3.5 billion has been invested in pipelines, wells and gas processing plants in Ohio recently, creating numerous job opportunities for truck drivers that are needed to transport water, sand and other equipment to and from well sites.
The U.S. is currently on its way to becoming the world leader in oil production thanks to shale plays in Texas and North Dakota, as well as oil production in the Marcellus and Utica shales.
Via: The Intelligencer & Wheeling News Register > Declining oil prices won’t slow drilling
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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.