Rice plans big budget for Marcellus, Utica shale plays
Tuesday, March 7, 2017
Rice Energy Inc. and Rice Midstream Partners LP aren’t afraid to invest in the Marcellus and Utica shale plays this years. According to ShaleOhio, they expect to spend more than $1.5 billion on capital projects.
Of the total budget allocated for the Marcellus and Utica shale regions, $1.035 billion is committed to drilling and well completion.
Additionally, $225 million has been set aside for land purchases. Half of the budget for land acquisitions will be spent on property in Greene County, Pennsylvania, while the remainder will be used to secure land in Washington County, Pennsylvania and Belmont County, Ohio.
Learn more: ShaleOhio > Rice to spend $1.5 billion on projects in Marcellus, Utica shale plays
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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.