Activity will continue to slow in Ohio’s Utica shale
Tuesday, December 29, 2015
As 2015 comes to a close, a growing number of shale companies in eastern Ohio are cutting back on drilling, but the impact doesn’t stop with production.
Akron Beacon Journal reports that the businesses that experienced growth along with the Utica shale boom — restaurants, gas stations, hotels and retail businesses – are feeling the strain of lower production and lower prices, too. Business is slowing as fewer shale workers are in the area.
According to the newspaper, some drillers have left the region, while others have decided to drill fewer wells in 2016. In addition, some companies are selling assets to stay afloat until prices increase again.
Via: Akron Beacon Journal > Energy glut, low commodity prices hitting Ohio’s Utica Shale; cutbacks are growing in Eastern Ohio
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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.