Encino Energy offered ‘potential’ $2B to frack Salt Fork State Park
Wednesday, April 12, 2023
Encino Energy offered Ohio a signing bonus and royalties that it estimated could total nearly $2 billion over 15 years to frack Salt Fork State Park, according to cleveland.com.
Encino’s offer included a $115 million signing bonus for leasing rights to drill in Ohio’s largest state park, located in southeast Ohio, and 20% royalty payment for oil and gas sales of minerals found under the park. Supporting documents the company provided to the state claimed the combination would amount to “potential” payments of up to $1.8 billion through 2041.
The proposal was ultimately rejected.
Learn more: cleveland.com > Texas driller offers Ohio ‘potential’ of $2 billion to frack Salt Fork State Park
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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.