Saudi Aramco considers investing in Marcellus Shale
Friday, May 10, 2019
Saudi Aramco is reportedly considering its first overseas gas project by investing in Equinor’s activities in the Marcellus Shale, according to Kallanish Energy.
State-owned Saudi Aramco and Norwegian giant Equinor are in talks for interest acquisitions or joint ventures in the Marcellus Shale. Equinor currently operates over 344,000 acres in the Marcellus Shale.
Saudi Arabia is looking at diversifying its economy and reducing dependence on oil, under the plan Saudi Vision 2030.
Learn more: Kallanish Energy > Saudi Aramco considering U.S. shale project with Equinor
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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.