US oil, natural gas permitting falls 10% in January
Wednesday, February 17, 2021
Approvals for onshore oil and gas permits in the lower 48 fell by 10% in January with declines across all major basins, according to the most recent monthly statistics compiled by Evercore ISI.
Last month permit approvals decreased to 1,688 — a 10% decline month-over-month when compared to December.
Permitting in natural gas-focused plays fell 23%. The Marcellus Shale saw a decrease of 20% to 65. The Utica Shale saw a decrease of 70% to 11 after four straight months of gains.
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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.