Permian Basin reaches highest level since April 2020, US rig count drops 3 to 621
Thursday, September 2, 2021
Although the Permian Basin gained four rigs during the week ended Aug. 26, the U.S. oil and gas rig count dropped three rigs to a total of 621, according to Enverus.
The Permian Basin’s rig count rose to 263 — its highest level since reaching 262 during the week ended April 22, 2020.
The rig counts in all other basins stayed the same or lost rigs during the week. The Haynesville Shale, Eagle Ford Shale and SCOOP-STACK of Oklahoma all shed two rigs. The DJ Basin of Colorado lost one rig. The Marcellus Shale, Bakken Shale and Utica Shale saw no changes.
Learn more: S&P global Platts > US oil, gas rig count falls 3 to 621; Permian only major basin with gains: Enverus
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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.