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A recent study shows the U.S. fracking boom added 725,000 jobs nationwide between 2005 and 2012. U.S. fracking boom added 725,000 jobs -study By: Richard Valdmanis (Reuters) A U.S. oil and gas drilling boom fueled by hydraulic fracturing technology added about 725,000 jobs nationwide between 2005 and 2012, blunting the impact of the financial crisis, according to a study released on Friday. The findings could play into a debate over so-called fracking, in which water, sand and chemicals are injected into underground shale formations to produce oil and gas reserves that were otherwise inaccessible. Supporters and opponents of fracking have been debating over the degree to which fracking is benefiting the economy versus affecting the health and environment of our communities, Dartmouth College said in a press release outlining the research, which was led by some of its professors. Drilling activity has declined over the past several months due to sliding oil and gas prices. Researchers
Early evidence from refracking research has shown that the new technique could draw oil from reserves for about 50 years. Refracking Is the New Fracking By:Dan Murtaugh, Lynn Doan, and Bradley Olson (Bloomberg) The technique itself is nothing new. Oil crews across the world have been schooled on its simple principles for generations: Identify aging, low-output wells and hit them with a blast of sand and water to bolster the flow of crude. The idea originated somewhere in the plains of the American Midwest, back in the 1950s. But as todays engineers start applying the procedure to the horizontal wells that went up during the fracking boom that swept across U.S. shale fields over the past decade, something more powerful, more financially rewarding is happening. The short life span of these wells, long thought to be perhaps the single biggest weakness of the shale industry, is being stretched out. Early evidence of the effects of restimulation suggests that the fields could actually
Recycling oilfield water has become more cost effective, allowing producers to reduce their freshwater usage for drilling and return some recycled water to drinking-level quality. Oilfield Water Recycling Could Significantly Boost Texas Water Supplies By: Gabriel Collins Robust drilling and production activity in the Eagle Ford, Permian Basin, Granite Wash, and other oil-producing areas of Texas has unleashed high demand for frac water and a surge of produced water as wells come online. A single large Eagle Ford frac job can require as much as 11.5 million gallons of water enough to submerge a one-acre plot of land under more than 30 feet of water. After the frac job, a sizable proportion of this fluid flows back and must be collected and either disposed of or reused. And after that, once a well begins producing, an average of 10 barrels of produced water will likely accompany each barrel of oil produced. Texas now produces nearly 3 million barrels per day of crude oil and
Kyle Isakower of Gazette Xtra gives his take on the benefits of lifting the fracking and export bans. Pro: Lifting bans on fracking, exports will add many jobs, save consumers billions By: Kyle Isakower (Gazette Xtra) EDITORS NOTE: The writer is addressing the question, Are restrictions on fracking and oil exports stifling American prosperity? If Texas were a nation, it would be the No. 3 dry natural gas producer in the worldahead of Iran, China and Saudi Arabia. Eight individual states now each produce over 3 billion cubic feet of natural gas per day, which would rank them among the worlds top 30 producing countries. In oil production, two U.S. statesTexas and North Dakotawould rank among the top 20 nations in the world. Four additional statesAlaska, California, New Mexico and Oklahomamake the top 35. In other words, the United States is now a global energy superpower, and even individual states are now global leaders in their own right. This growth is paying off for American
The EPA released its fracking study earlier this month and found little evidence of widespread danger to drinking water or the environment. EPA Fracking Study Ends the Hyperbole By: Tom Shepstone (Natural Gas NOW) When the EPA fracking study came out earlier this week we noted it ended the era of excuses for politically spineless entities such as the DRBC and New York State to avoid making decisions. It did something else even more important, though. It erased the shrill hyperbole of the screaming fractivists and well-funded special interests and replaced it with a balanced discussion of the facts, taking the tone down several notches, much like the New York State Department of Environmental Conservation Environmental Impact Statement (SGEIS) before the NRDC gang took over the finalization of the document to fit Cuomos crass political decision at their behest. Chapter 10 of the study is a synthesis of the EPA fracking studys findings and it includes several findings and observations
Kyle Isakower of the American Petroleum Institue weighs in on the benefits of lifting the fracking and export bans. Lifting bans on fracking, exports will add many jobs, save consumers billions By: Kyle Isakower (The Bellingham Herald) If Texas were a nation, it would be the No. 3 dry natural gas producer in the world - ahead of Iran, China and Saudi Arabia. Eight individual states now each produce over 3 billion cubic feet of natural gas per day, which would rank them among the worlds top 30 producing countries. In oil production, two U.S. states - Texas and North Dakota - would rank among the top 20 nations in the world. Four additional states - Alaska, California, New Mexico and Oklahoma - make the top 35. In other words, the United States is now a global energy superpower, and even individual states are now global leaders in their own right. This growth is paying off for American families and businesses. The abundance of affordable energy has lowered costs for many businesses,
A new report by the EPA is causing lawmakers to call for fracking bans to be rescinded in some states. EPA declares no widespread harm to drinking water from fracking, boosting industry By: Fox News Fracking supporters were boosted Thursday by a new Environmental Protection Agency report finding the controversial oil-and-gas extraction process has not caused widespread harm to drinking water. The findings were contained in a draft assessment, as part of a report requested by Congress. The report said the agency did not find evidence that any process has led to widespread, systemic impacts on drinking water resources in the United States. The agency did say the controversial drilling technique could affect drinking water if safeguards arent maintained. It found specific instances where poorly constructed drilling wells and improper wastewater management affected drinking water resources. But the EPA also reported the number of cases was small compared with the large number of wells
Jim Krane and Mark Agerton of Foreign Affairsexamine the anatomy of Americas shale boom. The U.S. Shale Boom Takes a Break By: Jim Krane and Mark Agerton (Foreign Affairs) Texas used to be the worlds swing producer of oil. In the first half of the twentieth century, the Texas Railroad Commission enforced production quotas to balance markets and keep prices and profits stable. Texas lost that job to OPEC in the 1970s, though, and never gained it backuntil now. The momentous shift became evident in the weeks after OPECs November decision to hold oil production steady in the face of weakening prices. It was time, Saudi oil minister Ali Naimi said, for another producer to idle his rigs. With Saudi Arabia standing firm, prices plummeted. Crude lost half its value between June and December 2014. Within a few weeks, it became apparent that someone would heed Naimis command, and that OPECs do-nothing strategy would succeed, at least in the short term. Starting in January, scattered roughnecks
Whiting Petroleum Corp. has recently recorded two record breaking wells using new completion methodology. Whitings Williams explains frack design evolution, payout focus By: Luke Geiver (The Bakken Magazine) Whiting Petroleum Corp. has more to share than just its new website. The Denver-based exploration and production company heavily focused on the Williston Basin is excited about its completion methodology evolution in the last three years. Using its newly adopted approach to hydraulic fracturing, Whiting recently recorded two record breaking wells, one in the middle Bakken and one in the Three Forks. We have the best wells in the entire play, said Mark Williams, senior vice president of exploration and production during a recent investor presentation. Whiting has recorded initial production rates for a Bakken well of 7,100 barrels of oil equivalent per day (boepd) and 7,800 boepd for a Three Forks well, each of which were drilling and completed in its Tarpon field. According to
Fields that once looked uncompetitive after the oil price crash are still active as fracking costs are falling faster than expected. CERAWEEK-U.S. fracking costs falling fast, may keep fields in play By: Anna Driver (Reuters) HOUSTON, April 22 (Reuters) - U.S. oil and natural gas companies have pushed down costs of fracking a shale well faster than expected, and if the trend holds up it could allow producers to keep working in oilfields that just months ago looked uncompetitive after the oil price crash. A more than 50 percent fall in the price of crude oil since June has left oil and gas producers insisting on steep price cuts from oilfield service companies that provide everything from drilling rigs to hydraulic fracturing. Oil is trading around $55 a barrel, and most U.S. shale fields are seen as having break-even costs of $40-$70 a barrel. In fourth-quarter earnings calls, operators initially were looking for prices cuts for services like fracking of around 20 percent. Now those
HB 40 passed through the Texas House of Representatives which will diminish local fracking bans. Texas House approves bill that limits city bans on fracking By: Marice Ritcher (Reuters) DALLAS (Reuters) - A bill that would stop Texas cities from enacting their own bans on hydraulic fracturing in the nations top crude oil and natural gas producing state was approved on Friday in the state House of Representatives. The bill bars cities from overly regulating the industry, targeting a ban on fracking, a method of extracting oil and gas that uses high pressure, adopted by voters in Denton, Texas, a college town about 30 miles (50 km) north of Dallas. Representatives voted 122-18 to advance the bill. The Texas Senate has yet to vote on a similar bill. The bill, which had more than 70 co-sponsors, is one of several introduced in response to Dentons ban and moves by other cities to impose drilling and fracking restrictions the industry sees as overly burdensome and costly. Denton sits
Oil production is beginning to recover as rig counts remain low, but Schlumberger CEO Kibsgaard says that the recovery will fall short of reaching previous levels. U.S. oil drilling faces slow recovery, no new highs - Schlumberger By: Reuters NEW YORK, April 17 (Reuters) - An eventual recovery in U.S. oil drilling activity after the biggest slump in three decades may never reach last years frenzied pace, according to the worlds largest oilfield services company. The drilling recovery will likely to be slower to emerge due to a growing reserve of wells that have been drilled but not yet hydraulically fractured and increased activity in re-fracking wells that are running dry, Schlumberger Ltd Chief Executive Paal Kibsgaard said in a conference call Friday. Schlumberger expects the rebound in U.S. onshore drilling will be pushed out in time as the inventory of uncompleted wells drilled and the refracturing market expand, Kibsgaard told analysts following the announcement of the companys
Egypt recently signed its first contract to participate in fracking and plans to drill three horizontal wells as deep as 14,000 feet in Western Sahara fields. Official: Egypt Sets Price for Shale Gas at $5.45 per MMBTU By: Ehab Farouk and Shadi Bushra CAIRO, March 9 (Reuters) Egypt has set the price of shale gas expected to be extracted from a recent concession to foreign firms at $5.45 per million British thermal units (mmBtu), an official at the oil ministry said on Monday. Egypt signed its first contract to extract gas by hydraulic fracturing, or fracking, in a deal with Apache and Shell Egypt in December that includes investments of $30-$40 million, the oil ministry said at the time. The shale gas agreement signed with Shell Egypt and Apache Corporation provides for a price of $5.45 per mmBtu of gas extracted, the official, who declined to be identified, told Reuters. To read the rest of this article, visit Rigzone.
In an effort to cut costs in the price downturn, the oil industry is looking to return to old wells. Drillers Take Second Crack at Fracking Old Wells to Cut Cost By: David Wethe (Bloomberg) (Bloomberg) -- Beset by falling prices, the oil industry is looking at about 50,000 existing wells in the U.S. that may be candidates for a second wave of fracking, using techniques that didnt exist when they were first drilled. New wells can cost as much as $8 million, while re-fracking costs about $2 million, significant savings when the price of crude is hovering close to $50 a barrel, according to Halliburton Co., the worlds biggest provider of hydraulic fracturing services. While re-fracking offered mixed results in the past, earning it the nickname pump and pray, the oil crash is forcing companies to pursue new technologies to produce oil more cheaply. Analyzing reams of data from older wells has become a key piece of the puzzle, identifying the best candidates for re-fracking instead of
Alex Mills of RIGZONE presents his case that fears surrounding fracking are not based on fact, and that every debate must be founded on sound science and research. The Debate About Fracturing Must Be Based On Sound Science By: Alex Mills (This opinion piece presents the opinions of the author. It does not necessarily reflect the views of Rigzone) Hydraulic fracturing has been accused by environmental groups of everything from polluting water supplies to contaminating the air to causing cancer to inducing earthquakes. The hysteria they have been able to create has people scared to death (no pun intended). Some residents have become so frightened that citizens have asked their city officials to prohibit hydraulic fracturing within the city limits. Texas cities - such as College Station, Mansfield, Azle, Reno, Presidio, Alpine and, of course, Denton, which did pass a referendum banning hydraulic fracturing within the city have all discussed banning the technology. However, all of
TIME Magazine reports on why conventional around oil prices and oil profit may not be applicable in the current fracking market. Why Americas Fracking Revolution Wont Be Hurt (Much) By Low Oil Prices By: Brian Dumaine (Fortune) For U.S. consumers, theres plenty to like about plummeting oil prices. After all, the cost of gasoline and home heating oil is falling dramatically as well. Since June, the price of WTI crude has dropped from about $101 a barrel to a recent price of $65, or roughly a 35% decline. And the average price of a gallon of unleaded gasoline in the U.S. has plunged to $2.76 from $3.27 a year ago, according to AAA. But dont falling prices threaten Americas fracking revolution? A lot is at stake. Since 2008, U.S oil production has risen from about 5 million barrels a day to more than 9 millionan 80% increase. As fracking boomed, the U.S. oil industry has helped the country become more energy independent and has created slews of high-paying jobsPresident Obama, in fact,
In a timely column from Forbes, Michael Lynch asserts that fear is sometimes used as the sole justification in policy making. From Ebola concerns to fracking objections, Lynch argues that many fears are irrational and based off of misleading statistics, for which calm, rational discourse would go a long way to provide beneficial outcomes. Fear Is Not A Good Basis For Energy Policy (Fracking And Pipelines) By: Michael Lynch It was amusing to hear that an Administration official had said that Israel Prime Minister Benjamin Netanyahu was a coward, since Jews are the classic case proving the adage that paranoics can have enemies. Which is not to say that I agree with Netanyahus stance on the nuclear negotiations with Iran, but fear seems to have cropped up a lot in energy policies in recent days. But fear is sometimes used as the sole justification for policy making, the most recent instance being a Connecticut school principal who banned a student from school because she had been in
A new report has provided operators with a blueprint for saving up to 40-percent on unconventional well costs. Among the highlights in the report, Accenture suggests a more integrated planning process, better management of contractors, and improved logistics and materials management. Luke Geiver reports. Accenture report: above-ground savings for unconventional wells By: Luke Geiver (The Bakken Magazine) Operators looking to reduce well construction, drilling and completion costs associated with unconventional wells now have a blueprint to do so thanks to a new report from Accenture. The global management, consulting and technology company has released a report, Achieving High Performance In Unconventional Operations: Integrated planning, services, logistics and materials management, to explain how operators can save up to 40 percent. A lot has been said and written about the manufacturing approach, but overall, we had a feeling that there are still above ground opportunities to
A recent report from the American Petroleum Institute details the economic benefits of hydraulic fracturing and horizontal drilling - including energy security, increasing diplomatic muscle, and lower fuel prices. Report for API quantifies new technologies 2013 US economic benefits By: Nick Snow (Oil Gas Journal) Innovations in hydraulic fracturing and horizontal drilling that have driven the energy renaissance in the US were responsible for about 48% of the nations crude oil production and shaved as much as 94/gal off of fuel prices in 2013, according to a recent report commissioned by the American Petroleum Institute. For the first time in generations, surging domestic production is driving our energy security and creating large benefits for consumers, said Kyle Isakower, API vice-president, regulatory and economic policy. Over the last 5 years, nearly every barrel of new US production can be attributed to the use of horizontal drilling and hydraulic fracturing technologies,
Fracking has been a controversial issue since it became a major factor in the recent U.S. energy boom. The oil and gas industry is thriving due in large part to fracking and horizontal drilling, but the practice is still facing rising opposition from activists, agencies, and the Obama administration. Valerie Richardson of The Washington Times reports. Fracking industry booming despite liberal protestations By: Valerie Richardson The U.S. oil and gas industry is thriving despite efforts by the Obama administration and liberal environmental groups to undermine fossil fuel development and production, according to a Senate report released Thursday. Republicans on the Senate Environment and Public Works Committee issued a report crediting hydraulic fracturing and horizontal drilling for fueling an energy renaissance, but noted that production on federally owned lands has actually decreased due to tight administration land-use policies. The Obama administration and [its] far-left environmental