GASFRAC Says LPG Waterless Fracking May Prevent Earthquakes
Last week MDN was the first to bring you the news that Canadian company GASFRAC has (after two years) finally begun fracking an Ohio Utica Shale well using liquefied petroleum gas, or LPG (see GASFRAC Begins Waterless Fracking Job in OH Utica). GASFRAC’s senior management held an analyst call last week to discuss the company’s performance (the company’s financials are not good). As part of that call was a Q&A in which the Utica well they’re now working on was discussed. We found the banter interesting. One of the more interesting aspects was GASFRAC’s contention that LPG fracking used in places where earthquakes are a concern (like Ohio) may reduce the likelihood of a fracking-induced earthquake from occurring…
Read More “GASFRAC Says LPG Waterless Fracking May Prevent Earthquakes”
The biggest news to hit the oil and gas industry in recent memory happened yesterday. The financial press lit up (and ran HUNDREDS of stories) about the leak/announcement/news that oilfield services company Halliburton is “in talks” to buy out rival Baker Hughes. The largest oilfield services company in the U.S. (and in the world) is Schlumberger, followed by Halliburton (again, in both the world and in the U.S.). Baker Hughes (BH) is the fifth largest oilfield services company in the world, but #3 in the U.S. Halliburton’s market capitalization this morning–price per share times outstanding number of shares–is $47.65 billion. Baker Hughes’ market cap is $26.59 billion, up $5 billion since yesterday afternoon when the news broke. Combined, the two companies would be worth $74.24 billion and employ (if there are no layoffs) 144,000 people. Schlumberger’s market cap, by comparison, is $127.62 billion with 126,000 employees. Both Halliburton and BH are heavily involved in providing all sorts of services (rigs, fracking, logistics, etc.) for exploration & production companies in both the Marcellus and Utica, as well as every other major shale play in the U.S. AND in every conventional play around the world…