Gulfport purchases over 12,000 acres in Utica shale
Tuesday, December 20, 2016
Gulfport Energy Corp. purchased drilling rights to 12,600 acres in Monroe County for $87 million at the beginning of the month, according to The Canton Repository.
The land is settled near the Oklahoma City-based driller’s existing holdings and located in a portion of the Utica Shale that produces natural gas. Nearly half the acreage is held by production.
In total, Gulfport has 262 wells in the Ohio Utica Shale — the second most of any company.
Learn more: The Canton Repository > Gulfport buys Monroe County acreage for $87 million
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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.