Olympus Energy LLC certifies natural gas, midstream operations in Appalachian Basin
Thursday, July 14, 2022
Olympus Energy LLC has certified its natural gas production in the Appalachian Basin via Project Canary, according to Natural Gas Intelligence.
The company operates more than 100,000 net acres with more than 10 producing wells in Marcellus, Utica and Upper Devonian plays of southwestern Pennsylvania.
Furthermore, Olympus will add around 140,000 MMcf/d” of certified natural gas to the market and expects that figure to grow.
Project Canary awarded Olympus platinum ratings, meaning its sustainability goals are higher than 90% of comparable companies. The company also earned the highest marks for environmental stewardship, including methane intensity, emissions reduction and water recycling.
Learn more: Natural Gas Intelligence > Appalachian Pure-Play Olympus Certifying All Natural Gas, Midstream Operations
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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.