US oil and rig counts fall again
Tuesday, April 5, 2016
The U.S. oil and gas rig counts have fallen again this week. Hart’s E&P reports that the oil rig count is 450, down 14 from last week. The natural gas rig count is 88, down four from March 25. The rig counts are compiled by Baker Hughes Inc.
This week last year, there were 1,038 oil and gas rigs operating in the U.S.
The Canadian oil and gas rig count is down this week, too.
Read more: Hart’s E&P > Report: Total US Rig Count Drops By 14 Rigs
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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.