Oil and gas industry sees change in number of IPOs, MLPs during third quarter
Monday, October 26, 2015
Pittsburgh Post-Gazette PowerSource reports that during the third quarter of 2015, there weren’t any initial public offerings in North American oil and gas companies. During the same period, the number of master limited partnerships fell.
Oil and gas companies isn’t sure when the commodity price comeback will occur, or what it will look like. Until then, midstream natural gas pipeline projects are underway in places like the Northeast where a lack of existing infrastructure has kept gas in the Marcellus and Utica shales from getting to markets there. Projects to move crude oil to markets around the U.S. are expected to slow down, according to the newspaper.
Via: Pittsburgh Post-Gazette PowerSource > Fewer oil, gas companies sought IPOs, report says
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
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.