Chesapeake to drill some Utica and Marcellus wells this year
Monday, May 9, 2016
Earlier this year, Chesapeake Energy Corp. announced that it would not drill in Ohio’s Utica shale or Pennsylvania’s Marcellus shale in 2016 due to low commodity prices, but would put previously drilled wells back in production.
Now, however, the company announced that it will resume some drilling, especially dry wells, in the Utica shale this year and next, according to Akron Beacon Journal. The decision to drill was partly influenced by a new pipeline that can ship natural gas to the Gulf Coast, which will garner better prices.
The source reports that up to five Utica wells and up to five Marcellus wells will be drilled in 2016. Between 45 and 55 Utica wells and 20 Marcellus wells will go into production this year.
Read more: Akron Beacon Journal > Chesapeake Energy to resume limited natural gas drilling in Utica, Marcellus shales
Related:
- Chesapeake won’t drill in Ohio’s Utica shale this year – Feb. 25, 2016
- Chesapeake hires restructuring firm, stocks drop – Feb. 9, 2016
- Chesapeake has no intention to pursue bankruptcy – Feb. 8, 2016
- Chesapeake leads Standard & Poor’s 500 Index loser ranking for 2015 – Dec. 30, 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.