Oil production increases in Texas’s Permian Basin
Wednesday, November 4, 2015
The price of oil may remain under $50 per barrel for a while, but that doesn’t mean producers are giving up.
According to The Wall Street Journal, drillers are producing more crude oil than ever in the Permian Basin. The Permian Basin is located in West Texas, stretching from south of Lubbock to south of Midland. The play reaches into southeastern New Mexico.
Domestic oil production peaked in April. Since the last count in August, the seven major shale plays as a whole have produced 274,000 barrels a day fewer than the peak in April. Between April and December, oil production in the Permian increased by 64,000 barrels a day.
Via: The Wall Street Journal > In West Texas, Oil Drillers Keep Pumping
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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.