Bids on Wayne National Forest drilling leases total $5.2M
Thursday, April 6, 2017
The rat race is on to acquire drilling rights in Wayne National Forest. As it stands, bids total $5.2 million for leases to explore and drill for oil and natural gas on 1,180 acres in Monroe County, Ohio, according to The Athens News.
The bids were submitted via an online auction conducted by the United States Bureau of Land Management. The auction marks the second round, as an earlier one took place in December to disperses leases on 719 acres of the forest. A third auction is scheduled for June 22.
The companies that secured leases in the first two rounds of auctions will still have to submit site-specific drilling applications to the BLM and U.S. Forest Service before they will have full approval to drill.
Learn more: The Athens News > Oil and gas lease auction for Wayne nets $5M in bids
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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.