US oil,gas rig count decreases for first time in 2021
Monday, April 26, 2021
The US oil and gas rig count decreased for the first time this year, falling 11 to 530 during the week ended April 21, according to Enverus.
Oil rigs dropped 15 for the week, bringing the total to 404. Natural gas rigs gained four, bringing the total to 126.
The Permian Basin saw the biggest loss, shedding five rigs to total 231.
Learn more: S&P Global Platts > US oil, gas rig count drops for first time this year, losing 11 rigs
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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.