- Energy companies are taking their fracking operations from the land to the sea - the deep waters off the U.S., South American and African coast - as advances in technology and vast offshore discoveries finally have combined to make large scale deepwater fracking feasible.
- The big play is in the Gulf of Mexico, where wells more than 100 miles from the coastline must traverse water depths of a mile or more and can cost nearly $100M to drill - a potential boon for oil service providers such as Halliburton (NYSE:HAL), Baker Hughes (NYSE:BHI) and Superior Energy (NYSE:SPN), and major producers such as Chevron (NYSE:CVX), Shell (RDS.A, RDS.B) and BP could reap billions of dollars over time as fracking helps boost crude output.
- At sea, wastewater from fracked wells is dumped overboard into the vast Gulf, where dilution renders it harmless, companies and regulators say; but "nobody knows what they’ve been discharging and in what amounts," according to the oceans director for the Center for Biological Diversity.
The next frontier for offshore drilling: deepwater fracking
From other sites
at MarketRealist.com (Apr 11, 2015)
at Zacks.com (Apr 8, 2015)
at MarketWatch.com (Apr 7, 2015)
Oil & Gas Stock Roundup: Chesapeake Reduces Capex Budget, Halliburton Plans $10B Asset Sales - Analyst Blogat Zacks.com (Mar 24, 2015)
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