Fracking – a technique for the extraction of natural gas..
If you have heard about shale revolution, you also might have heard about the term “fracking”; the technique in which a fluid is being pumped into a well which directly goes into the rocks, containing natural gas and then releases from it, the natural hydrocarbons. This has been an extraction method which was being developed in early 1949. Hydraulic fracturing was used in conventional rocks, which had low porosity and it was quite difficult to handle the drilling procedure. With the combo pack of horizontal drilling, fracking emerged as one of the technical “tactic” to find and explore new rock areas. Earlier, it was considered that the shale formations cannot be drilled to form natural gases.
So, how is fracking related to the oil prices? One and a major point to be noted here is that natural gas belongs to the local market and they cannot be compared to the oil industry, in any ways. As such, other countries have to rely its supply on the producers like US and Canada. Due to its gaseous nature, the transportation of natural gases can only be done through pipelines and the investment is quite high for the same. Therefore, if it’s cost raises “high” in the graph, then it would be reflected in the worldwide prices, too. For more details visit this website.
How do you extract the natural gas?
The type of gases, which were extracted from the shale formations were the “tight gas” and the “shale gas”. In the year 1990, out of the 17.81 trillion oil that were produced, the former type only held about 0.71 trillion cubic feet, while the latter only had 1.81 trillion. Over the years, there has been significant changes and the “shale revolution” are one of the prominent of them. The Energy Information Administration are not capable of extracting the information about the techniques ( that is being used in the wells), but they hold records of the type of gases which are being produced. Even though the gas prices reached a peak in the year 2008, fracking is one of the reasons for lowering the process on a global level.
The reason behind the low production of natural gas in US
Well, the technologists knew that that the shale rocks contain vast deposits of hydrocarbons; however, they did not get adapted to the technology that is used for extracting. Earlier, the North Eastern countries had all the gas transported from the Gulf Coast.
Global Oil 57 is one of the popular oil and natural gas companies of Vancouver, which was involved in the production of oil and concentrated their research over the rocky areas of Indonesia and Saratov Region Russia.