American Energy Partners looks to Australia for shale development
Thursday, September 10, 2015
Fuel Fix reports that Aubrey McClendon’s company, American Energy Partners, has its sights set on Australia for oil and gas exploration.
The company is buying 55 million acres in Australia’s Northern Territory and will possibly purchase an additional 10 million acres there. In total, the acreage is about 10 times larger than the productive portions of the Utica and Marcellus Shale plays. The deals are expected to close in 2016, but the price of the Australian acreage hasn’t been disclosed yet.
Chevron and ConocoPhillips previously had explored Australia’s oil and gas potential but gave up earlier in 2015.
Via: Fuel Fix > McClendon’s American Energy to buy 55 million acres in Australia
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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.