Marcellus producers end 2015 with lower value than at the beginning
Sunday, January 10, 2016
It’s no surprise that 2015 was a hard year for oil and gas producers.
According to Pittsburgh Post-Gazette PowerSource, producers in the Marcellus shale finished the year with about half of the value they started it with.
You can view energy stock charts on Pittsburgh Post-Gazette PowerSource’s website to see how companies operating in Pennsylvania’s Marcellus shale fared each week of 2015.
Via: Pittsburgh Post-Gazette PowerSource > Marcellus Shale producers’ stocks dive in 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.