Utica Shale called ‘very prolific,’ likely to be active for the next 50 years
Sunday, December 7, 2014
The Utica Shale has been called “very prolific” by energy analyst Irene Haas of Wunderlich Securities in Houston, Texas, and should continue to produce for 50 years, according to the Akron Beacon Journal.
Annually, the United States uses 26 trillion cubic feet of natural gas. Ohio’s top 12 drillers have produced a combined 190 trillion cubic feet of natural gas on 2.5 million acres, or the equivalent of 7.3 years of natural gas energy.
Haas predicts that even if oil and gas prices fall, the Utica Shale will still be drilled, And, she predicts that the Utica Shale can be accessed in northern West Virginia and southwestern Pennsylvania, but wells would be more costly because the shale is deeper in those areas. Also, accessing the Utica Shale in Pennsylvania would create too much excess natural gas, and that would drive prices down even farther.
Via: Akron Beacon Journal > Utica Shale likely to be productive for 50 years, analyst says
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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.