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US Shale Under Pressure From More Than Just Low Prices

December 4, 2014

US Shale Under Pressure From More Than Just Low Prices.

Hydraulic fracturing, or fracking, has come full circle in Denton, Texas after a controversial ban on the practice entered into effect on Tuesday. Denton is one of several cities located on top of the massive Barnett shale formation, regarded as the birthplace of modern fracking. The ban, while incomplete, gives strength to what is a growing anti-fracking movement in the United States.

The Barnett shale covers an area of more than 5,000 square miles with depths between 5,000 and 8,000 feet. With more than 40 trillion cubic feet (Tcf) of technically recoverable gas, the Barnett holds approximately 12% of the nation’s proved reserves. Over the past decade, activity on the shale skyrocketed and over 15,000 wells have been drilled to date. For the state, the benefits are clear – in 2011 alone, Barnett production added nearly $13.7 billion to the Texas economy. However, productionpeaked in 2012 at 2 Tcf and will plummet by more than half toward 2030 – recent ban notwithstanding.

U.S. Dry Shale Production

Source: EIA

Despite the success, fracking is not a victimless pursuit and its spread has been met with an unequal, but growing amount of public criticism; local bans and national moratoriums prove not everyone is on board. Earlier this year, Exxon CEO Rex Tillerson became party to a suit, which sought to remove fracking-related infrastructure from his Dallas suburb.

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