Fracking Feed

The future of fracking: Moratorium in Maryland expires this October | WBFF

BALTIMORE (WBFF) -- Fracking can produce clean energy and good jobs, or it can produce dirty fuel and health problems, depending on who one asks.

The two sides of the debate are talking as a moratorium on fracking is about to end, and a permanent ban could begin.

Hydraulic fracturing drills into the ground and uses chemicals on the rock below, to produce natural gas.

Delegate Wendell Bietzel of Allegany and Garrett Counties, says fracking can produce good jobs. Land owners who lease their property to fracking companies can benefit, too.

via foxbaltimore.com


Eleven ‘Super-Lateral’ Wells for East Ohio

After drilling its 3.5-mile-long “Purple Hayes” well last year, Eclipse Resources now plans to bore 11 additional horizontal wells this year, each of which will stretch at least three miles from their points of entry into the earth.

In horizontal Marcellus and Utica shale drilling, contractors initially drill vertically to a certain depth in the earth, typically at least one mile beneath the surface. Drillers then bore outward horizontally from this position.

The 11 Eclipse “super-lateral” wells will stretch horizontally in the firm’s eastern Ohio operations, which include portions of Monroe, Belmont, Guernsey and Noble counties.

via www.theintelligencer.net


Oil rises after news OPEC could extend output cuts | Reuters

Oil prices rose on Thursday after OPEC sources said the group could extend its oil supply-reduction pact with non-members and might even apply deeper cuts if global crude inventories failed to drop to a targeted level.

OPEC and other exporters including Russia agreed last year to cut output by 1.8 million barrels per day (bpd) to reduce a price-sapping glut. The deal took effect on Jan. 1 and lasts six months.

Most producers appear to be sticking to the deal so far but it is unclear how much impact the supply reductions are having on world oil inventories that are close to record highs.

via www.reuters.com


Fresh US drilling capping oil price: OPEC

Renewed drilling by US oil producers is keeping a ceiling on a global crude price recovery, cutting into the impact of deep reductions by other major producers, OPEC said Monday.

In its latest oil market report, the Organization of the Petroleum Exporting Countries said its members last month reduced output by 890,000 barrels per day according to secondary sources.

The International Energy Agency said last week that the initial rate of compliance with a landmark deal to reduce the global oil glut was 90 percent.

via www.dailymail.co.uk


Fracking bill on the move, Northwest Ga. lawmakers take the lead

State Rep. John Meadows is tweaking his proposed fracking bill to incorporate suggestions from energy companies — but the Calhoun Republican said Thursday he intends to ensure Northwest Georgia water is protected.

Fracking — hydraulic fracturing — involves injecting liquid at high pressures into underground rocks to force open fissures and extract natural gas or oil.

Meadows said he expects another subcommittee hearing on his bill early next week, after he incorporates some changes sought by industry representatives.

via www.northwestgeorgianews.com


Guest opinion column: Ban on fracking might bring back $4-a-gallon gas: Front Burner - Orlando Sentinel

Proposed legislation to ban advanced forms of oil and natural gas well stimulation — including hydraulic fracturing —  is out of step with Florida consumers and families who see the economic and environmental benefits of domestic energy development. The decades-old hydraulic fracturing technology, paired with horizontal drilling, is the driving force for the American energy revolution that has led to lower energy costs and has actually led to improvements in the environment.

Hydraulic fracturing has turned the U.S. into the largest producer of oil and natural gas in the world.  Most Floridians readily recognize the economic benefits from the use of hydraulic fracturing. AAA has noted that, in 2015, drivers saved about $550 in gasoline costs. In addition, households saved $1,337 through lower home-energy costs and lower costs for other goods and services.  This is a far cry from just a few years ago when families were fretting over large utility bills and $4-per-gallon gasoline.

via www.orlandosentinel.com


Kudos To Colorado AG For Rebuking Boulder County On Its Fracking Moratorium

In the last several years, municipal and county governments have thrust themselves into some of the nation’s most contentious legal-policy debates by imposing regulatory mandates and restrictions on business conduct. New York City famously tried to shrink soda serving sizes. San Francisco has dictated that ads for “sugary drinks” include health warnings. Philadelphia has prohibited businesses from asking job applicants about their salary history. And numerous cities and counties have enacted restrictions or bans on oil and natural gas extraction from shale plays within their borders.

That last type of local regulation has instigated many battles between city or county government and state lawmakers. The latest fight—between the State of Colorado and the County of Boulder—is about to come to a head. In a January 26 letter sent to Boulder County’s three commissioners, Colorado Attorney General Cynthia H. Coffman has given the county until Friday, February 10 to rescind its “moratorium” on accepting new applications for oil and gas development. If the county fails to act, Attorney General Coffman has pledged to file suit.

via www.forbes.com


Oil stuck near $57 as Iran, OPEC countered by U.S. drilling rebound

LONDON (Reuters) - Oil steadied close to $57 barrel on Monday as rising tensions between the United States and Iran and OPEC supply cuts were countered by ample inventories and signs that higher prices will revive U.S. output.

U.S. energy companies added oil rigs for a 13th week in the last 14, data showed on Friday. Despite the OPEC cuts, U.S. crude inventories increased more than expected last week.

Brent crude was trading at $56.75 a barrel at 1000 GMT, down 6 cents, trading in a narrow 46-cent range. U.S. crude was up 4 cents at $53.87.

"The tug-of-war between oil bulls and bears continued last week and there are no clear signs who could turn out to be the winner," said Tamas Varga of oil broker PVM.

"The result is a rangebound market where buyers shy away on a pop over $57 basis Brent but they feel a dip to the $54-level is an attractive purchase."

via finance.yahoo.com


Fracking, Lower Gasoline Prices Returned $1,000 To Household Budgets Last Year

Lower gasoline prices saved Americans more than $115 billion in 2016 compared to 2014, the American Automobile Association (AAA) reports. The findings illustrate how fracking has blessed us with low energy prices that improve Americans’ living standards and quality of life.

AAA observes that the $115 billion equates to $550 per licensed driver. Here is another way we can break it down: divided among, the average household saved approximately $1,000 last year compared to 2014. Families used the windfall to invest in better education, health care, housing, and other goods and services that raise living standards, raise health standards, and make life more enjoyable.

via www.forbes.com