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FAQs
Pros:
- Increased energy security – Hydraulic fracturing can help access untapped natural gas resources and increase energy security. This could reduce reliance on foreign gas sources and help stabilise energy costs.
- Economic benefits – The hydraulic fracturing process creates jobs and provides economic benefits both directly (through local spending) and indirectly (tax revenues).
- Increased energy production – Hydraulic fracturing has allowed the production of natural gas and oil to increase dramatically. This has spurred investment into the energy sector and contributed to the overall economic development of the US.
- Environmental impact – Hydraulic fracturing equipment manufacturers can have significant environmental effects, including the potential contamination of groundwater and air pollution.
- Safety risks – There are potential safety risks associated with hydraulic fracturing, including the potential for blowouts, leaks and earthquakes caused by the process.
- High costs – The cost of constructing a well and the cost of extracting natural gas or oil can be high.
Hydraulic fracturing, or "fracking," is the process of breaking rock apart underground to access oil and gas deposits. It is done by pumping a fluid containing a solid propping agent such as sand into a well at high pressures. This fluid pressures the rock, creating fractures in them. The sand, or other propping agent, is pumped in to keep the fractures open, allowing the oil and gas to flow. Fracking is usually done with hydraulic fracturing tools such as strong pumps, which can operate either from the surface or from within the well itself and a variety of other specialised equipment. This includes a special piping or tubing setup, various valves and other control devices. Monitoring equipment is also used to measure and control the pressure levels and flow of the fluids.
There are several major frac equipment manufacturers, including Schlumberger, Halliburton, Baker Hughes, NOV, Weatherford International, Canrig Drilling Technologies, Superior Energy Services and Welltec.
Hydraulic fracturing also known as hydrofracking or fracking is a process used in the extraction of oil and natural gas from deep underground, where they are otherwise inaccessible. The process involves injecting a high-pressure stream of water, sand and chemicals into shale rock layers, releasing cracks that allow the oil and gas deposits to escape and be captured at the surface.