16.1.19
Fracked Shale Oil Wells Drying Up Faster than Predicted, Wall Street Journal Finds | DeSmogBlog: In Texas’ famed Permian Basin, now the nation’s most productive shale oil field, where Pioneer predicted 960,000 barrels from each of its shale wells in 2015, the Journal concluded that those “wells are now on track to produce about 720,000 barrels” each.
Not only are the wells already drying up at a much faster rate than the company predicted, according to the Journal’s investigative report, but Pioneer’s projections require oil to flow for at least 50 years after the well was drilled and fracked — a projection experts told the Journal would be “extremely optimistic.”
Dispatch: Aboriginal Press Media Group | Permalink | [16.1.19] | 0 comments
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