| Water Is Almost as Precious as Oil in the Permian BasinBy Kevin Gibson on Jan 29, 2019 07:37 am “Water is the new oil,” said Laura Capper, a Houston-based oilfield consultant. “The value of water has changed. ”The reason is fracking, a technique that helped kicked off the shale revolution a decade ago. It is the last major step to completing a well, and it is a massive consumer of water. Ranches that can sell excess supplies get a steady revenue stream, which is having an impact on rural real estate appraisals. Thirsty for Frack Water U.S. water demand to blast oil-bearing shale rock has doubled since 2016 Source: Rystad Energy Note: in billions of barrels In the Permian, America’s busiest oil patch, a producer needs to blast as much as 60,000 barrels of water into a well every day, along with sand and chemicals, to complete the fracking that cracks open the tight, oil-bearing rock about a mile underground. The process takes about 10 days.Demand for water to use in fracking in the Permian has more than doubled from 2016 levels, according to industry consultant Rystad Energy. Demand should grow to more than 2.5 billion barrels by next year, accounting for nearly half of all U.S. oilfield needs. excerpt from Bloomberg article by David Wethe ?January? ?24?, ?2019? Read in browser » Recent Articles:STAND UP-Before we lose transparency in government! Coconino Documenatry from ASU NFAZ Performs Baseline Water Testing for Communities. Drilling Towards Disaster: Why U.S. Oil and Gas Expansion Is Incompatible with Climate Limits White Mountain Democrats – Resolution Against Fracking in Arizona |
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