Pin Oak becomes major player in two years
Friday, March 16, 2018
Pin Oak Energy Partners LLC is quickly becoming one of the more aggressive oil and gas companies in the Marcellus and Utica shale plays in Ohio and Pennsylvania, according to The Youngstown Business Journal.
Since it was established in 2015, the privately held, Akron-based company has struck deals with some of the biggest players in the oil and gas industry, acquiring conventional and unconventional wells, leases and midstream assets across the Appalachian basin.
The company currently operates 393 wells, has 22 miles of midstream infrastructure and holds 119,000 acres in the Utica and Marcellus region.
Learn more: The Youngstown Business Journal > In 2 years, Pin Oak becomes major player
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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.