Antero Resources releases fourth quarter results
Tuesday, January 19, 2016
Fourth quarter reports from Antero Resources state that the company’s Utica and Marcellus shale production fell only one percent from the third quarter, according to Akron Beacon Journal.
Antero ended up completing and beginning production on 16 new horizontal wells during the fourth quarter of 2015 in Ohio’s Utica shale, up from its earlier estimate of 12. The newspaper reports that overall, Antero’s 2015 fourth quarter production was up 18 percent from the previous year.
Earlier in 2015, Columbus Business First reported that the company paid $9 million to delay or terminate contracts due to low natural gas prices.
Via: Akron Beacon Journal > Antero Resources is pleased with Utica, Marcellus production
Related: Antero Resources gains 12,000 Utica Shale acres, 115 new drilling locations in Ohio Jan. 20, 2015
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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.