The Obvious Delusion Of ‘No More Natural Gas’

  • Date: 13-Sep-2021
  • Source: Forbes
  • Sector:Oil & Gas
  • Country:Gulf
  • Who else needs to know?

The Obvious Delusion Of ‘No More Natural Gas’

FORT WORTH, TX - DECEMBER 17: Floor hands move drilling pipe to a storage area on a Barnett Shale ... [+] natural gas drilling rig in the 18, 000 acre grounds of the Dallas-Fort Worth International Airport on December 17, 2008 in Fort Worth, Texas. The 11, 500' well is owned by the Chesapeake Energy Corporation and drilled by a new model Mountain Rig leased for its smaller profile and drilling platform. Chesapeake paid the DFW Airport Authority $181 million as an initial bonus and pays a royalty of 25% on all gas produced. In Texas, state law gives owners of mineral rights the prerogative over owners of surface land. One of the largest natural gas fields in the US, the Barnett Shale formation, discovered in the early 1950's, covers 5, 000 square miles underlying the Dallas-Fort Worth area and is proven to hold 2. 5 trillion cubic feet of natural gas. The Barnett Shale is known as a tight gas reservoir in hard shale rock and requires hydraulic fracturing technology to properly release the underground gas. Drilling in urban areas of Fort Worth has been a contentious issue between city councils, local residents, large land holders and influential energy