PDC Energy Inc. may return to Ohio’s Utica Shale
Tuesday, May 26, 2015
In December 2014, PDC Energy Inc. ceased its operations in Ohio, but the driller may be returning to the Buckeye State soon, according to Columbus Business First.
The Denver-based company has a well pad, named Dynamite, in southeastern Guernsey County that is doing better than cost and production predictions. Another well north of the Dynamite well will start production soon. The newspaper reports that PCD budgeted $35 million for its 67,000 acres in eastern Ohio’s condensate window.
PDC said that before the decision is made to move oil rigs back to the Utica Shale in Ohio, oil prices would need to be between $70 and $80 a barrel.
Via: Columbus Business First > Driller says it may resume work in Ohio sooner than expected
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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.