A ban on fracking in the watershed is expected later this year, but there’s still a proposal to allow discharge of fracking waste in the region. Murphy is being asked to prevent that happening With a …
though they proposed allowing “related activities” such as using the region’s freshwater for fracking and disposing of fracked wastewater at treatment facilities within the basin. A vote on the draft …
The Permian Basin in West Texas is on track to produce more oil within five years than any OPEC nation except Saudi Arabia, positioning the Texas Gulf Coast to rival the Persian Gulf when it comes to oil and gas activity.
Crude volumes from the Permian will more than double by 2023, making the region the world’s third-largest producer after Russia and Saudi Arabia, according to the research and consulting firm IHS Markit. Most of that oil is headed to refineries and ports near Houston and Corpus Christi, as U.S. crude exports are expected to surge to nearly 5 million barrels a day by 2023, up from more than 2 million today.
“In the past 24 months, production from just this one region — the Permian — has grown far more than any other entire country in world,” said Daniel Yergin, IHS Markit vice chairman.
The comeback of the Permian, which today accounts for more than half the nation’s active oil drilling rigs, is among the the most remarkable stories in the industry’s history. At the beginning of the decade, the aging oil field was struggling with declining production. But advances in hydraulic fracturing, or fracking, and horizontal drilling pioneered by Houston companies such as EOG Resources, have tapped massive reserves of previously inaccessible oil and gas.
By 2023, the shortage of pipelines to move oil, gas and natural gas liquids to Gulf Coast markets and beyond is expected to be alleviated by multibillion-dollar projects now underway or planned. Oil, petrochemical and liquefied natural gas companies are investing billions of dollars to process and export petroleum from the Permian and other shale plays, which, according to the International Energy Agency, has made the Gulf Coast a global trading center as vital to world’s energy needs as the Straits of Hormuz, through which tankers filled with Middle Eastern crude travel to the world’s markets.
Near Corpus Christi, for example, the Houston exploration and production company Occidental Petroleum, is continuing to expand its crude export terminal at Ingleside. In 2017, Texas accounted for three-fourths of U.S. crude exports, which recently hit a weekly record in May of 2.6 million barrels a day.
IHS Markit estimates that $308 billion in new spending is required to drill more than 40,000 new wells in the Permian needed to meet its projections. That’s more than double the $150 billion invested there from 2012 to 2017. The report also assumes that oil prices will continue to average at least $60 a barrel.
Oil settled in New York Thursday at $66.89 per barrel.
That accounts for 45 percent of total U.S. fracking sand needs. While BNSF and Union Pacific will provide the long-haul rail shipment routes that will move the barrels from the Permian Basin to the U.S. Gulf, shippers still have to use short lines such as …
Earthsight documented approximately 500 square kilometers (193 square miles) of deforestation to clear the way for new rubber and oil palm plantations in Central Africa’s rainforest countries in the past five years. The team also found that companies in …
Nakai said the research team did not look at the relationship between the Raton Basin earthquakes and hydraulic fracturing, or fracking. Wastewater disposal wells are used to pump water deep back into the ground after it is extracted during the collection …
fracking wastewater – BingNews
A vote on such a ban is expected by mid-2018. There is also a proposal under consideration to allow fracking wastewater to be stored or discharged in deep underground wells within the watershed and using water from the basin for fracking. Environmental …
fracking wastewater – BingNews
Environmentalist greet ban with approval, but are less pleased with regulations that will address how fracking wastewater will be disposed of in the region The Delaware River Basin Commission yesterday formally began the process of drafting new rules to …
fracking wastewater – BingNews
However, this resolution includes language that allows for the treatment and dumping of fracking waste, as well as taking water from the basin for the fracking process. “The reason we want a fracking ban is to protect the waters from toxic chemicals from …
fracking wastewater – BingNews
Fracking near the White River in Utah … and oceans like Alaska’s Chukchi Sea, the Gulf of Mexico and the Eastern Seaboard. These places and the fossil fuels beneath them are held in trust for the public by the federal government; federal fossil …
gulf fracking – BingNews