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THE Fracking Thread pt 4

Discussions of conventional and alternative energy production technologies.

Spooked by Quakes, Oklahoma Toughens Fracking Rules

Unread postby AdamB » Sun 11 Mar 2018, 15:13:19


After swarms of earthquakes caused by hydraulic fracturing, Oklahoma has introduced tougher regulations than those used by any Canadian energy regulator. Last month the Oklahoma Corporation Commission ordered all drillers to deploy seismic arrays to detect ground motion within five kilometres of hydraulic fracturing operations over a 39,000-square-kilometre area in the centre of the state. The commission, which regulates the industry, also lowered the minimum level of earthquakes at which operators must change practices from the current 2.5 magnitude to 2. In addition, frackers must suspend their operations immediately for up to six hours after causing a 2.5 magnitude earthquake which can be felt at the surface. The commission created the new earthquake protocol after hydraulic fracturing operations set off more than 70 earthquakes of at least 2.5 magnitude since 2016. Canada’s energy regulators only make companies stop operations if they cause a magnitude 4 earthquake. The Alberta


Spooked by Quakes, Oklahoma Toughens Fracking Rules
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Re: U.S. Government Confirms Link Between Earthquakes and Hy

Unread postby Outcast_Searcher » Sun 11 Mar 2018, 15:28:34

Given the way things tend to work re government, this seems like a reasonable approach by government. Tighten regulations and attempt to deal with the problem by making things safer. Do NOT just "ban fracking", as though the world doesn't want and need hydrocarbons to run the system.

My main issue is how long such changes take -- but that seems to be in the nature of things in first world governments, generally, IMO.

They should continue to evaluate and make further changes if needed, based on ongoing objective data.

The modern world is fraught with risky activity. Without risk, modern technology and cities couldn't exist. In an ideal world, such risk is intelligently managed by prudent government regulation.

In the real world, things are often a mess in the short term, but society at least tries to navigate some sort of "reasonably rational" compromise. Obviously, MANY groups will disagree with the decisions made, on almost all substantive issues.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: THE Fracking Thread pt 4

Unread postby Tanada » Thu 22 Mar 2018, 23:27:53

COLUMBUS, Ohio— The U.S. Bureau of Land Management today will auction 345 acres of Ohio’s only national forest, the Wayne National Forest, for oil and gas fracking despite a recently filed protest showing fracking could endanger drinking water and wildlife.

The leases would lock in dangerous fracking in the Wayne. Despite known threats from fracking pointed out by the conservation groups’ protest, the BLM planned the auction using only a cursory review that avoids site-specific analysis of potential harm. That means the public will have no information about pollution risks to streams, eradication of endangered species habitat and harm to nearby communities, which is required under the National Environmental Policy Act.

“The Bureau of Land Management is unlawfully cutting corners in its push to develop the Wayne. Our protest filing is intended to rein in the agency,” said Nathan Johnson, attorney for the Ohio Environmental Council. “The Wayne is one of Ohio's finest natural treasures, plain and simple. It deserves to be protected from heavy industrial development.”

The auction comes after the U.S. Forest Service announced plans to revise its 2006 forest plan governing land management in the Wayne. Conservation groups last year sued the Forest Service and the BLM, which oversees drilling and fracking of federal oil and gas. The lawsuit says federal officials relied on the outdated plan and failed to analyze threats to public health, water, endangered species and the climate before opening 40,000 acres of the Wayne to fracking.

“This wild forest is being sacrificed for fracking based on a dangerously outdated plan that ignores major risks to public health and wildlife,” said Wendy Park, an attorney at the Center for Biological Diversity. “The lack of transparency in this process is disturbing. The Forest Service needs to listen to the public and spare Ohio’s only national forest from fracking industrialization and contamination.”

“When well pads are blowing up in Ohio, earthquakes are increasing in number, toxic radioactive frack waste is injected into holes in the ground all over our Appalachian counties, and pipelines are destroying our landscape and polluting our wetlands and streams, we are saying it is time to stop,” said Roxanne Groff with Buckeye Environmental Network. “The Forest Service has dismissed us for far too long and we are not going to stand for them to waste our finest natural resource any longer.”

Clear-cutting for well pads, roads and other infrastructure would reverse decades of forest and watershed recovery in the Wayne and destroy habitat for endangered Indiana bats and threatened northern long-eared bats. The bats are already imperiled by forest fragmentation, white-nose syndrome and climate change. Pollution from fracking operations, explosions and spills would damage water supplies that provide drinking water for millions of people.

“There are very few vestiges of wilderness left in Ohio for wildlife habitat and outdoor recreation. Ohio's only national forest should be preserved, not plundered for private industry profits,” said Jen Miller, director of Ohio Sierra Club. “We call for the stop of all fracking and pipeline activities, and for a robust, transparent process to revise the forest management plan in a way that maximizes wildlife protections and recreational opportunities for generations to come.”

Since 2016 the BLM has auctioned off more than 2,300 acres of Wayne National Forest. Three lease sales have used “determinations of NEPA adequacy,” or DNAs, which avoid any analysis of site-specific environmental harm before leasing public lands to industry. Conservation groups have mounted administrative or legal challenges to these lease sales.

“In a time of accelerating climate change, biodiversity loss, and air and water pollution crises, this action by the supposed stewards of our natural resources is unconscionable,” said Heather Cantino of Athens County Fracking Action Network. “Wayne and BLM’s justifications for this action are not based on science or the public interest, which by law they must be. Today’s protest stands up for the law and the rights of the American people.”

The Trump administration recently issued a directive calling for expanded use of DNAs for fracking leases on public lands across the country. That directive effectively excludes the public from the public-lands leasing process, shortens protest periods to just 10 days from 30 days, and restricts BLM staff from postponing lease sales to protect sensitive resources.

“It’s extremely disappointing that, after all of the climate disasters of 2017, the Bureau of Land Management is still choosing to sacrifice our National Forest for fossil fuel industrialization,” said Becca Pollard of Keep Wayne Wild. “BLM should instead focus on the forest’s natural ability to absorb greenhouse gases while providing habitat for wildlife and wild places for people to visit.”


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Re: THE Fracking Thread pt 4

Unread postby ROCKMAN » Fri 23 Mar 2018, 00:53:12

T - Been meaning ask a question about such concerns. I'm sure everyone remembers all the claims about the damages caused by frac;ng few years ago. Have you noticed that despite thousands of wells frac'd in various trends across the nation over the last few years you see almost no such claims? And even the hysteria over frac'ng in OK causing earthquakes has been dismissed since it was shown that if any manmade activity was the cause it was waste water disposal and not frac'ng itself.
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Re: THE Fracking Thread pt 4

Unread postby coffeeguyzz » Fri 23 Mar 2018, 01:20:27

The 345 acres is barely half of a standard 1 mile section. (Eastern states do not have geometric, pre-determined Drilling Units/Leases like most western states).

The extraction for much of this is to enable neighboring, privately owned land/mineral rights to proceed.
I'm not sure if all the surface activity will take place outside of the forest boundaries completely.

In any event, the anti fossil fuel people excel in proudly spreading false, dramatic narratives in inverse proportion to their embrace of facts.
After all this time, it is most dismaying that these braying, know nothing activists still have an audience for their deceit.
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Re: THE Fracking Thread pt 4

Unread postby coffeeguyzz » Fri 23 Mar 2018, 01:30:58

And, Rockman, the conclusive study of studies was the EPA"s 'meta study' of 1,200 papers, investigations, studies on frac'ing throughout the USA.
Nada, zilch was found harmful and the previous administration's Marxists went nuts.
Made the final release say no systemic damage was found.

This report will be read by no one and it is a shame as the detail, scope, and clear conclusions show hydraulic fracturing is an inherently safe process that has been done for 70 years.
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Re: THE Fracking Thread pt 4

Unread postby ROCKMAN » Fri 23 Mar 2018, 17:53:31

coffee - And of course: "Made the final (EPA) release say no systemic damage was found." Which means no lawyers working for contingency fees which means no one paying for lawyers to file lawsuits which means no one filing lawsuits which means no reporters listening to incensed landowners ranting about damages.

And the possibility a counter lawsuit might give some landowners second thoughts. From last Sept:

In March 2016, a jury awarded the family of Scott Ely and Monica Marta-Ely $2.5 million. The family of Victoria Hubert was awarded $1.49 million. The judgement was against Cabot Oil for its frac’ng in this portion of PA. In March 2017, federal judge Martin C. Carlson set aside the jury verdict, saying the evidence did not support the judgement. The judge agreed with Cabot that the weaknesses in the plaintiffs’ case and proof, coupled with serious and troubling irregularities in the testimony and presentation of the plaintiffs’ case – including repeated and regrettable missteps by counsel in the jury’s presence – combined so thoroughly to undermine faith in the jury’s verdict that it must be vacated and a new trial. Moreover, the jury’s award of more than $4 million in damages for private nuisance bore no discernible relationship to the evidence, which was at best limited; and even were the Court to find that the jury’s verdict of liability should stand, the Court can perceive no way in which the jury’s damages award could withstand even passing scrutiny regardless of the applicable standard of review.

IOW the jury didn’t care if the evidence supported the case or not: they just wanted to suck some cash from the Big Bad oil company for their fellow citizens. And what has their effort bought those “damaged” landowners: Cabot has filed a $5 million lawsuit against them and their lawyers for filing a frivolous lawsuit against the company. And this isn’t the only suit filed against landowners running frac’ng damage scams. One landowner in Texas took a big hit when the company that filmed his “flaming water well” admitted it was all a fake.

Not surprising that none of those folks here that constantly reposted the news of such INITIAL judgements haven't bothered to update those cases, is it? LOL.
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Re: THE Fracking Thread pt 4

Unread postby coffeeguyzz » Fri 23 Mar 2018, 20:13:32

Rock
Don't get me started on the Ely-Cabot case.

2 local journalists attended every day throughout the 2 week case.
Just a few of the gems ...

Methane-infused water from the Ely water well was found and documented BEFORE Cabot began drilling (very common in this area).

Isotopic analysis of the Ely water showed different components from nearby Cabot well ... IOW no connection whatsoever.

AFTER claiming Cabot ruined their homestead, Elys built $1 million estate on same ground.

On and on ...
These bits of info are not broadcast as The Narrative of those eeevill frac'ers must go on.

Lying sacks of shit one and all.
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Re: THE Fracking Thread pt 4

Unread postby ROCKMAN » Sat 24 Mar 2018, 12:32:35

coffee - There you go again: using facts to attack good hardworking patriots. Don't you even care about "the children"? LOL.
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Re: THE Fracking Thread pt 4

Unread postby Tanada » Fri 24 Aug 2018, 22:36:48

Argentina to resume gas exports to Chile

Argentina will resume pipeline natural gas exports to neighboring Chile on 1 September for the first time in more than a decade, reflecting increased production from the Vaca Muerta shale formation.

Argentina's government published a resolution today outlining the process for companies to receive approval to carry out the sales to Chile.

The agreement will open the door to sales of as much as 22mn m3/d (777mn cf/d) of gas to Chile, according to the government of Neuquen province, which hosts Vaca Muerta.

All gas produced under a subsidy program that pays producers of approved tight and shale gas projects in the Neuquen basin as much as $7.50/mn Btu cannot be exported, according to the resolution. The subsidy, which was designed to boost production, is no longer needed because of rising production, energy minister Javier Iguacel said late last month.

The resolution published today emphasizes that exports will only be allowed to take place if they do not hurt domestic supply.

Argentina's gas output increased 4.5pc to 127.2mn m3/d in the first six months of 2018, compared to the same period last year.

Once a reliable gas exporter for the region, Argentina started to restrict exports in 2004 amid soaring demand and dwindling supply, and in 2008 began importing LNG to supplement pipeline gas from neighboring Bolivia. The cutoff of gas exports mainly impacted Chile, which later turned to LNG as well. Both countries now have two regasification terminals apiece.

Over the last three years, Chile has supplied LNG-derived gas to Argentina to meet peak wintertime supply, using two reversed cross-border pipelines.

In late June 2018 Chile´s state-owned Enap signed a three-year framework gas sales agreement with its Argentinian counterpart IEASA, formerly known as Enarsa, to permit up to 3mn b/d of pipeline supply during the southern hemisphere months.

The total of 93mn m3 of gas received from Chile in July allowed Argentina to save $21mn in diesel that it would have been forced to purchase to operate thermal power plants, according to IEASA.

Argentina's demand for gas peaks in the winter because it is used for heating and the government prioritizes residential supply.


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Re: THE Fracking Thread pt 4

Unread postby ROCKMAN » Sun 26 Aug 2018, 13:24:16

The new export sales might not represent increased recent development of the play as much as the improvement of the pipeline infrastructure and take away capacity. Which would naturally increase additional development of the play in general.

https://pgjonline.com/magazine/2018/jun ... -transport
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Re: THE Fracking Thread pt 4

Unread postby ralfy » Mon 03 Sep 2018, 03:07:13

The Next Financial Crisis Lurks Underground

Amir Azar, a fellow at the Columbia University Center on Global Energy Policy, calculated that the industry’s net debt in 2015 was $200 billion, a 300 percent increase from 2005. But interest expense increased at half the rate debt did because interest rates kept falling. Dr. Azar recently called the post-2008 era of super-low interest rates the “real catalyst of the shale revolution.”
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Re: THE Fracking Thread pt 4

Unread postby coffeeguyzz » Mon 03 Sep 2018, 17:09:43

Great potential 'teaching moment' for anyone truly interested in learning a bit about this so called Shale Revolution, how the media has portrayed/misrepresented it, and what to expect in the future.

Takes all of 10 seconds to Google 'wti in 2015'.

Chart pops up enabling a quick scan of decades of wti pricing at a glance.
Notice anything about 2015, boys and girls?
Ya know, like only 3 months above 51 bucks?

Check out 2014.

Check out 2018.

This is why you folks, and much of the wider population, keep getting caught off guard when you take this unadulterated, cherry picked bullshit as reality.

It's not.

Quoting Chanos and Einhorn? Biggest short sellers on the planet? Puhleeze.

Freakin' referring to Chesapeake from 2002 to 2012???
Today??
In September, 2018???

Pro tip ...
Any article that says " ...widespread concern about the impact of fracking (sic) on the environment, about earthquakes and water contamination ..." is - a priori - an uninformed presentation by a Know Nothing author.

Proof?

Who amongst you has read the massive 2016 report from the EPA on the environmental effects of frac'ing?

Anyone?

The writer from the Times clearly has not, as this meta study, incorporating over 1,200 studies, papers, reports found NO systemic problems despite the contorted dramas from Parker county, Dimock, and Pavillion.

If you folks wish to continue to choose to be willfully blind to the hydrocarbon abundance in the USA, then taking the above piece as truth would be the way to go.

For those of us who choose to live in reality, the Shale Revolution has demonstrably unleashed a brighter tomorrow for our communities, families, and country.
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Re: THE Fracking Thread pt 4

Unread postby ralfy » Mon 03 Sep 2018, 21:59:36

coffeeguyzz wrote:Great potential 'teaching moment' for anyone truly interested in learning a bit about this so called Shale Revolution, how the media has portrayed/misrepresented it, and what to expect in the future.

Takes all of 10 seconds to Google 'wti in 2015'.

Chart pops up enabling a quick scan of decades of wti pricing at a glance.
Notice anything about 2015, boys and girls?
Ya know, like only 3 months above 51 bucks?

Check out 2014.

Check out 2018.

This is why you folks, and much of the wider population, keep getting caught off guard when you take this unadulterated, cherry picked bullshit as reality.

It's not.

Quoting Chanos and Einhorn? Biggest short sellers on the planet? Puhleeze.

Freakin' referring to Chesapeake from 2002 to 2012???
Today??
In September, 2018???

Pro tip ...
Any article that says " ...widespread concern about the impact of fracking (sic) on the environment, about earthquakes and water contamination ..." is - a priori - an uninformed presentation by a Know Nothing author.

Proof?

Who amongst you has read the massive 2016 report from the EPA on the environmental effects of frac'ing?

Anyone?

The writer from the Times clearly has not, as this meta study, incorporating over 1,200 studies, papers, reports found NO systemic problems despite the contorted dramas from Parker county, Dimock, and Pavillion.

If you folks wish to continue to choose to be willfully blind to the hydrocarbon abundance in the USA, then taking the above piece as truth would be the way to go.

For those of us who choose to live in reality, the Shale Revolution has demonstrably unleashed a brighter tomorrow for our communities, families, and country.


Increasing debt.
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Re: THE Fracking Thread pt 4

Unread postby coffeeguyzz » Tue 04 Sep 2018, 01:07:11

ralfy

That is exactly my point.
The debt is in various states of being paid off by an increasing number of companies.

It is not increasing.

At 65/70 buck wti (to say nothing of LLS being above $75), many of these operators are actually in pretty strong financial position.

This, despite 2 years of ball busting low revenue.
Corner has already been demonstrably turned.

Above article is last year's news.
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Re: THE Fracking Thread pt 4

Unread postby marmico » Tue 04 Sep 2018, 08:12:16

As cash flow increases, U.S. oil companies continue trends of debt reduction and hedging
https://www.eia.gov/petroleum/weekly/ar ... _print.php

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Re: THE Fracking Thread pt 4

Unread postby rockdoc123 » Tue 04 Sep 2018, 10:38:51

That is exactly my point.
The debt is in various states of being paid off by an increasing number of companies.

It is not increasing


This is a very good point and indicates one of the problems some folks run into by not fully understanding how the industry worked or how it continually changes to meet new challenges.

The reason for the run-up in debt is 2 fold to my mind: 1. the shale business was incredibly competitive. For bad or good the industry tends to be run by owners/management who tend toward the "lemming" approach rather than the "wildcatter" approach. They go where everyone else is going. To their mind this is a means of mitigating risk but as a consequence lease rates are higher and in order to capture enough land to be successful (you have to drill a lot of wells in the unconventional business to have high enough rates to be considered successful) you have to work beyond cash flow, hence taking on debt and 2. most of these companies are publicly traded and the investment community as a whole views them as growth engines, not dividend machines. Hence they want to see lots of activity and steadily increasing production rates...again the solution is increased debt. In fact, the investment community looked at debt to equity ratios as a means of understanding how much growth potential a company might have..higher debt meaning they could drill more wells and grow faster.
In any event that all came crashing to a precipitous end in 2014 when the oil price fell. The high debt affected some companies more than others, companies with significant cash flow and the ability to push activities into the future were able to deal with a proportionate increase of their free cash flow to debt repayment, others ended up having to renegotiate terms with banks who were more than willing to do so (better a lower carrying charge paid out over more years than being stuck with an oil and gas property with drilling obligations the bank would not know what to do with). In the worst case, some companies ended up declaring Chapter 11 (or the Canadian equivalent) which gave them breathing space to restructure or alternatively sell their assets. And going forward as marmico points out all of these companies have been directing more of their free cash flow to debt retirement. This pattern will continue until such time as companies are pressured by the investment community to grow exponentially once again and the cycle will repeat itself.
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Re: THE Fracking Thread pt 4

Unread postby coffeeguyzz » Tue 04 Sep 2018, 16:15:03

... and a followup to rocdoc's and marmico's comments from TODAY'S news, not from a decade ago ...
Southwestern just sold off its Fayetteville operations for almost $2 billion to a privately funded operator.
$900 million of this will go to PAYING OFF DEBT, $200 MM for stock buyback, $600 MM for increased Appalachian Basin development.

This type of activity continues across a wide swath of this industry.

Media 'reporters' with an agenda continue to mislead willful Disbelievers.
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Re: THE Fracking Thread pt 4

Unread postby ralfy » Tue 04 Sep 2018, 22:15:34

coffeeguyzz wrote:ralfy

That is exactly my point.
The debt is in various states of being paid off by an increasing number of companies.

It is not increasing.

At 65/70 buck wti (to say nothing of LLS being above $75), many of these operators are actually in pretty strong financial position.

This, despite 2 years of ball busting low revenue.
Corner has already been demonstrably turned.

Above article is last year's news.


That is not your point. Debt is increasing, now estimated at more than $2 trillion by the BIS, with $0.5 trillion in debt repayments that need to be repaid every five years, and only if oil prices exceed $80. Take note that that's only for debt repayments. The oil industry has to take on even more debts in exchange for lower increases in oil production, and that requires even higher oil prices.

That's why you skipped every other point in "last year's news," including layoffs of thousands of workers and companies selling off assets and burning through their cash flows.

Your level of cherry picking is incredible.
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Re: THE Fracking Thread pt 4

Unread postby ralfy » Tue 04 Sep 2018, 22:24:15

coffeeguyzz wrote:... and a followup to rocdoc's and marmico's comments from TODAY'S news, not from a decade ago ...
Southwestern just sold off its Fayetteville operations for almost $2 billion to a privately funded operator.
$900 million of this will go to PAYING OFF DEBT, $200 MM for stock buyback, $600 MM for increased Appalachian Basin development.

This type of activity continues across a wide swath of this industry.

Media 'reporters' with an agenda continue to mislead willful Disbelievers.


And how many more operations can they keep selling off, and what do buyers do with them if prices don't go up and creditors demand more?

And what happens to consumers when prices do go up?

In short, increasing debt taking place to cover what is essentially the effects of peak oil and the complete opposite of your claim of "hydrocarbon abundance", and higher prices needed to cover those debts. With low prices, companies sell off assets, burn through their cash flows, and lay off workers, hoping that prices will eventually go up so that they can take on more debt again. And that can only be paid off if prices keep rising.

Given that, is there anything that you still want to say that doesn't counter what the same "media 'reporters'" are saying?
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