US shale production set to fall to two-year low
Friday, May 22, 2020
The Energy Information Administration’s latest Drilling Productivity Report indicates U.S. shale production is set to fall to a two-year low in the coming weeks, according to Yahoo Finance.
EIA estimates show oil production from the country’s leading shale basins is set to fall by 197,000 barrels per day in June compared to a month earlier. The Permian Basin is leading the way, cutting 87,000 bpd.
U.S. natural gas production is also set to fall by about 1 percent — or 779 million cubic feet per day (mcf/d)— in June. The Appalachian Basin will lose 85 mcf/d.
Learn more: Yahoo Finance > Permian Basin Leads Decline In U.S. Shale
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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.