US oil, gas rigs fall 12 to 543 last week
Tuesday, May 25, 2021
The U.S. oil and gas rig count dropped 12 to 543, with both oil and natural gas rigs decreasing by 6, according to rig data provider Enverus.
The Permian Basin saw the biggest loss, dropping four rigs to total 237, followed by the Eagle Ford Shale that lost three to total 41.
In the Appalachian Basin, the Marcellus Shale lost two rigs, bring its total to 33, and the Utica Shale shed one rig to total 11.
Learn more: S&P Global Platts > US oil, gas rigs fall 12 to 543 on week, as industry focuses on recovering oil demand
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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.