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There’s a lot of misinformation published and discussed in the media about hydraulic fracturing, better known as fracking. However, when you dig into this highly-contested topic, you uncover some fascinating information that combats many of the false allegations levied against the oil and gas industry. Hydraulic Fracturing Began in 1947 Though the process of fracturing shallow wells can be traced back to the 1860s, fracking as we know it today began with the first hydraulic
According to the U.S. Geological Survey, the previous estimates for the amount of gas in the Mancos Shale formation in Colorado’s Piceance Basin were a teensy bit off. How far? About 4,000 percent. A recent report from the organization stated that the deposit may have as many as 66.3 trillion cubic feet of gas, as opposed to a 2003 estimate which put the number at around 1.6 trillion. This new estimate puts Colorado as the
Among the legislative issues facing Coloradans in the voting booth this November is the highly controversial initiative 63, or the “Right to Healthy Environment” Initiative. The petition still needs to clear the nearly 100,000 signatures required to become an official part of this November’s vote, but if it is put on the ballot, it could spell trouble for the oil and gas industry in the state. On paper, initiative 63 seems pretty unobjectionable. After all,
On November 8, there’s a likelihood that Colorado voters will encounter — among other tough decisions at the polls — Colorado ballot initiative #78, colloquially known as the Mandatory Setback from Oil and Gas Development Amendment. While the term “setback” in the bill’s title refers to physical location and not actual hindrances to the oil and gas industry, the dual meaning may very well be apt if the initiative is actually voted in by Colorado’s
Things continue to remain sparse in the oil and gas industry, and while public sentiment is almost inclined to cheer that development, the real victim of the industry downturn has been smaller oil and gas businesses across the country. While the industry’s financial hardships are expected to continue into the future, there’s hope on the horizon for the industry as a whole. First, the bad news. In the last two months, several oil and gas