The United States Department of the Interior announced a revision last week about an increase in the potential production in the Wolfcamp Shale and Bone Spring Formation. The announcement stated, two underground layers in the Delaware Basin in the Permian shale play of West Texas and New Mexico, contain 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas and 20 billion barrels of natural gas liquids. This represents the largest pool of oil and gas reserves anywhere in the United States. The Permian is already the driving force in production hitting an all-time high in November of 11.7 million barrels per day (bpd) as it is the biggest producer and boasts the quickest rate of production at 3.63 million bpd.
Hydraulic Fracturing is the process of stimulating rock to capture gas from shale formations in the Earth, and is also one of the main reasons the United States is on its way to be a world leader in energy production. In this technological age, advancements are happening daily and rapidly. One nuance to the oil and gas industry is making the hydraulic fracturing process more seamless, efficient, safer, and less pollutant and that is coming to fruition with the innovation of Electrical Hydraulic Fracturing. So what is Electric Hydraulic Fracturing? The technology is based upon electricity powering pressure pumps and fracking equipment fueled 100% by natural gas fueled by field gas or alternative natural gas sources.
The Federal Energy Regulatory Commission (FERC) has given partial permission for the Mountain Valley Pipeline (MVP) stabilization plan to move forward. The MVP project is a natural gas pipeline system that spans 300 miles from Northwestern West Virginia to southern Virginia retrieving its supply from the Marcellus and Utica shale sites. The pipeline is part of a joint venture of EQT Partners, LP; NextEra US Gas Assets, LLC; Con Edison Transmission, Inc.; WGL Midstream; and RGC Midstream, LLC. The project is expected to supply up to two million dekatherms (dth) per day of transmission capacity to markets in the Mid- and South Atlantic regions of the US. With compressor stations located in Wetzel, Braxton, and Fayette counties of West Virginia.