Hydraulic Fracturing (‘Fracking’)
The implementation of hydraulic fracturing in recent years sparked a boom in U.S. natural gas production – particularly in the Barnett and Marcellus shales. And it has permanently changed the paradigm of oil exploration and production. Hydraulic fracturing (or “fracking”) is the process of breaking open rock formations to release hidden oil reserves. Millions of gallons of water and chemicals are blasted into underground rock formations. This fractures the rocks and injects proppant (usually sand) into the existing and newly created crevices to keep the rock formations open and allow the oil to flow out. As we’ve discussed, fracking’s economic success depends on the availability of water in the region as well as energy infrastructure, especially pipeline systems and storage, processing, and refining facilities.
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