Fracking is not new and will likely become commonplace among members of the public for numerous reasons. The practice has been there since the 1940s but has only recently seen rapid expansion throughout the world. Current estimations have it that there are more than 2.5 million wells worldwide and the number continues to grow. Extraction of these reserves will see an increase in the amount of fossil fuel production.
The process of fracking involves the injection of a mixture of proppant such as sand, water, and chemicals into a gas or oil well. The fluid then creates fractures in a pre-drilled well and allows greater permeability of the surrounding rock. The proppant fills the cracks created by the water to keep them open after the water flows back out. This allows gas to begin flowing through the cracks and up the wellbore.
It goes without saying that natural gas has entered center-stage as an attractive source of energy owing to an increase in demand for cleaner energy, volatility of global energy prices and a general decline in conventional gas deposits. Although fracking is commonly used to stimulate wells to produce natural gas, it can also be used for the extraction of other fluids such as oil and water.
Developments
Over the years, hydraulic fracturing has undergone numerous developments. In fact, it is safe and well regulated by federal as well as state agencies. Processes and technologies continue to be improved under the guidance of industry standards that are developed from experiences in the field and which are thoroughly reviewed before adoption.
Slapped tariffs
The boom in shale oil production has tremendously increased the demand for oil-country tubular goods (OCTG). As many countries import steel pipes, tariffs have been slapped against steel tubes used for oil exploration. In fact, many well operators make use of drill pipe protectors to offer an expandable downhole wear surface around their drill pipes for reinforcement.
Principles of transparency, integrity and consideration for community concerns are the basis for responsible operations. Operators of fracked wells acknowledge the challenges associated with industry activities and are committed to helping communities achieve positive and long lasting benefits. Safe and responsible development of shale energy is providing much needed energy and has helped lower energy related emissions of carbon dioxide to its lowest levels in the last two decades.
One of the main reasons for the increased popularity of fracking over the last decade is advances in drilling technology (such as horizontal drilling). The developments have made it economically viable to drill from oil and gas reserves that were previously considered difficult to exploit. This has also facilitated the discovery of new reserves as more companies seek oil and gas in new locations around the world.
The production of oil has gradually declined from the 1980s onward. Thanks to fracking and new drilling techniques, oil production has recently experienced annual increases. This increase in oil and gas production has direct economic effects that can easily be quantified and potentially far reaching indirect effects.
When it comes to OCTG, MSI Pipe Protection Technologies has you covered. Contact us today!
