Range to spend $1B drilling mostly in southwestern Pa.
Monday, February 19, 2018
Range Resources Corp. Range Resources Corp. recently announced it plans to spend nearly $1 billion on natural gas drilling in 2018, mostly in the Marcellus shale in southwestern Pennsylvania, according to the Pittsburgh Business Times.
Range’s production budget is down from the $1.15 billion it expected and the $1.27 billion it actually spent in 2016. With $941 million set aside for production this year, Range expects to spend 80 percent of that in the Marcellus.
Range expects 25 percent growth in the Marcellus region as it will be able to move more natural gas out of the Appalachian basin by the end of 2018.
Learn more: Pittsburgh Business Times > Range to spend nearly $1B in drilling in ’18, mostly in southwestern Pa.
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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.