U.S. rig count continues to fall
Monday, July 20, 2020
On Friday, Baker Hughes reported the number of oil and gas rigs in the U.S. fell by five to 253, marking the nineteenth straight week in the number of active rigs, according to OilPrice.com.
Compared to the same time last year, the active rig count is sitting at 701 fewer. Last week, the number of oil rigs decreased by 1, bringing the total to 180 — compared to 779 active rigs a year ago.
The total number of active gas rigs fell by 4, bringing the total to 71 total rigs — compared to 174 rigs a year ago.
Learn more: OilPrice.com > U.S. oil rig count falls for nineteenth straight week
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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.