Not Logged In Log In   Sign Up   Points Leaders
Follow Us    8:51 PM

GasBuddy News Article

50
votes
EOG Says U.S. Fracking Rule to Cost $1.5 Billion a Year

Bloomberg Businessweek -- The Obama administration’s plan to tighten regulation of hydraulic fracturing for natural gas on public land may cost more than 20 times U.S. estimates, energy companies and local governments said.

EOG Resources Inc., the top oil producer in a Texas shale formation, and officials from Wyoming and Utah cite a study by John Dunham and Associates that said it will cost $253,839 per well to meet the proposal for disclosing chemicals being used and certifying the well is isolated to avoid leaks. The Bureau of Land Management estimated costs at $11,833 per well.

“The proposed rule is unnecessary, excessive and requires actions that no state currently regulating oil and natural gas production deems necessary,” Eric Dille, government affairs director for Houston-based EOG, said ...


Read the Full Article

Submitted Sep 08, 2012 By: BurntOrange
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: EOG Says U.S. Fracking Rule to Cost $1.5 Billion a Year Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
remay
Champion Author Houston

Posts:9,118
Points:2,619,240
Joined:May 2006
Message Posted: Sep 10, 2012 7:36:47 AM

Maybe the Bureau should do the work and CHARGE for it, since the know how much it will cost. 12K is a bargain compared to 254K.
Profile Pic
jrs4125
Champion Author Indiana

Posts:4,765
Points:1,092,430
Joined:Sep 2011
Message Posted: Sep 10, 2012 6:13:16 AM

I don't think so.
Profile Pic
drpepperTX
Champion Author Texas

Posts:12,983
Points:1,259,865
Joined:Apr 2011
Message Posted: Sep 9, 2012 3:31:55 PM

@ ebill who says below that it's a fact that water is contaminated, you couldn't be more off base. I'll repeat my earlier post as obviously you have fallen victim to fear and paranoia.

As more and more SCIENTIFIC studies are added to a growing list of studies showing the safety of hydraulic fracturing, the science denial crowd will overlook the science and continue to promote fear. Yelling "the water's on fire etc.".

They'll continue to chant the thoroughly debunked claims of Josh Fox "Gasland" propaganda.

No disclosure of fracturing fluid?? WRONG again... Just take at look around the site www.fracfocus.org, it's ALL right there for the world to see.

And the latest from the purveyors of fear? Insurance!!! Aha, this will be the nail in the trackers coffin! Oh wait...."Fracking-related losses have never been a covered loss under personal or commercial lines policies." - Nationwide Insurance Co.

So now it's water use eh? As each aspect of the witch hunt against oil and gas production is knocked down by science these yahoos will come up with something else out of the blue. Show me one state where oil and gas comapanies use more than a tiny fraction (far less than 1%) of the total water usage. While your at it show me a state that doesn't allow golf courses to use hundreds of times more water than drilling. You cannot, case closed. 

You see, there is a huge amount of deceiving information spouted out to the public about hydraulic fracturing, a decades-old technology. Those who spread this misinformation are mostly preying on the public's fears, with an ultimate goal of forcing state governments to succumb to that fear and prevent or even ban hydraulic fracturing. We need to make sure that the discussion is productive, and that any rules are legitimately conceived. Fact must be sEPArated from fiction.

The most common claim talking point is that hydraulic fracturing contaminates ground water. This is baseless. Have you ever noticed that the critics who make that claim never provide concrete evidence? The reason for their omission? It is obvious why. After being used more than 1.2 million times there have been no confirmed cases of hydraulic fracturing contaminating water. None. Never. Ever.

As EPA Administrator Lisa Jackson said in April of 2012, "In no case have we made a definitive determination that the fracking process has caused chemicals to enter groundwater." 

The three "smoking gun" cases that the anti-shale zealots were sinking their teeth into have proven false or based on very poor science. See Pavillion WY, Dimoch, PA, and Parker County, TX.

The latest fear mongering is "climate change" thru methane emission from hydraulic fracturing. Once again SCIENTIFIC investigation has shown the EPA using numbers that are overblown  by 50%.

Oh and the "evil Halliburton Loophole" talking point! LOL, what a joke. This is the errant claim born out of the yellow journalism of "gasland", a proven fraudulent film by Josh Fox, that hydraulic fracturing is "exempt" from the Safe Drinking Water Act, thanks to an energy bill passed by Congress in 2005. The truth??? SDWA has been the law of the land for nearly 40 years, and at no point has it ever covered hydraulic fracturing. Why??? States already tightly and effectively regulate the process. 
Profile Pic
drpepperTX
Champion Author Texas

Posts:12,983
Points:1,259,865
Joined:Apr 2011
Message Posted: Sep 9, 2012 3:23:30 PM

Yes TustiDad, the proprietary information is included, they are only relieved from stating the specific amount used, that is what is 'proprietary'. Just like Coca-Cola or any other recipe, all ingredients are known, only ratios are 'trade secret'.
Profile Pic
TustinDad
Champion Author Orange County

Posts:5,220
Points:984,780
Joined:Feb 2008
Message Posted: Sep 9, 2012 1:25:43 PM

drpepperTX wrote: "No disclosure of fracturing fluid?? WRONG again... Just take at look around the site www.fracfocus.org, it's ALL right there for the world to see."

But does that list disclose the proprietary chemicals that, by law, do not need to be disclosed? I kind of doubt that.
Profile Pic
LetemEatCake
Champion Author Oklahoma City

Posts:5,705
Points:1,360,915
Joined:Mar 2008
Message Posted: Sep 8, 2012 11:55:59 PM

Malarkey! I think somebody is full of it! Disclosing the chemicals used in fracking costs virtually nothing! Other companies have already done that....did we hear any sum of money whined about?

[Edited by: LetemEatCake at 9/9/2012 12:56:44 AM EST]
Profile Pic
rjoeh
Champion Author Michigan

Posts:9,411
Points:2,978,475
Joined:Jun 2004
Message Posted: Sep 8, 2012 11:22:28 PM

Sounds normal for the Obama Administration to grossly under estimate costs to companies and individuals just like Obama Care.
Profile Pic
judgemobile
Champion Author Ohio

Posts:9,904
Points:2,954,960
Joined:Nov 2005
Message Posted: Sep 8, 2012 11:09:18 PM

get the dang government out of the private sector--VOTE FOR ROMNEY AND RYAN.
Profile Pic
rahcat
Champion Author Grand Rapids

Posts:5,035
Points:1,172,975
Joined:Jan 2010
Message Posted: Sep 8, 2012 11:07:28 PM

Obama and the EPA.......Get out of the way!
Profile Pic
tutaw
Champion Author Kentucky

Posts:5,722
Points:1,339,220
Joined:Sep 2008
Message Posted: Sep 8, 2012 11:02:13 PM

ok
Profile Pic
shores4now
Champion Author Kentucky

Posts:4,799
Points:1,033,775
Joined:Jul 2009
Message Posted: Sep 8, 2012 11:01:35 PM

Ok
Profile Pic
Beaveronparade
Champion Author Hartford

Posts:3,333
Points:1,117,810
Joined:Mar 2011
Message Posted: Sep 8, 2012 10:59:42 PM

Another reason for gas to go up?
Profile Pic
Ahking
Champion Author Orange County

Posts:3,618
Points:625,235
Joined:May 2011
Message Posted: Sep 8, 2012 10:59:24 PM

If they know what to buy, they can report without much effort unless there are unsavory substances.

Safe guarding our water supply should be done in a preventive manner. When contamination is detected, it will be too late.
Profile Pic
Number43
Champion Author Lexington

Posts:11,126
Points:2,148,140
Joined:Oct 2008
Message Posted: Sep 8, 2012 10:57:06 PM

Drill baby drill.
Profile Pic
Number43
Champion Author Lexington

Posts:11,126
Points:2,148,140
Joined:Oct 2008
Message Posted: Sep 8, 2012 10:56:34 PM

The fools at the sierra club have taken over america.
Profile Pic
nimpy
Champion Author Indianapolis

Posts:10,174
Points:2,151,270
Joined:Oct 2007
Message Posted: Sep 8, 2012 10:56:19 PM

A reason to increase the price
Profile Pic
Number43
Champion Author Lexington

Posts:11,126
Points:2,148,140
Joined:Oct 2008
Message Posted: Sep 8, 2012 10:55:25 PM

OBUMMER JUST CAN'T COUNT.
Profile Pic
DustyHorse
Champion Author Virginia

Posts:8,342
Points:1,867,450
Joined:Oct 2008
Message Posted: Sep 8, 2012 10:54:33 PM

The Obama administration hates all fossil fuels.
Profile Pic
fenster66
Champion Author Pittsburgh

Posts:5,695
Points:1,184,970
Joined:May 2011
Message Posted: Sep 8, 2012 10:53:57 PM

ok....
Profile Pic
trytogetby
Champion Author Cincinnati

Posts:1,149
Points:283,660
Joined:Apr 2012
Message Posted: Sep 8, 2012 10:52:29 PM

All righty then.
Profile Pic
Z51Corvette
Champion Author Austin

Posts:10,403
Points:2,128,435
Joined:Jan 2008
Message Posted: Sep 8, 2012 10:52:09 PM

More political rhetoric to make it difficult to produce a product. Liberal Democrats don't care how much it costs the American taxpayer... Truly!!! Don't drink the Tree Huggers and Socialist's Kool Aid!
Profile Pic
nigelb
Champion Author Virginia

Posts:10,749
Points:1,891,900
Joined:Feb 2008
Message Posted: Sep 8, 2012 10:51:53 PM

Fracking need to be closely monitored if we have any chance to keep our water clean.
Profile Pic
96sc1
Champion Author El Paso

Posts:8,517
Points:1,367,640
Joined:Mar 2008
Message Posted: Sep 8, 2012 10:51:50 PM

Only 20 times U.S. estimates? Not a record.
Profile Pic
Red7002011
Champion Author Mississippi

Posts:5,667
Points:1,176,775
Joined:Jul 2011
Message Posted: Sep 8, 2012 10:51:09 PM

Really!
Profile Pic
SalukiCO
Sophomore Author Colorado Springs

Posts:204
Points:344,970
Joined:Jun 2012
Message Posted: Sep 8, 2012 10:50:43 PM

Oh well. Don't expect them to stop. They will just ignore it and pay a $12 fine.
Profile Pic
rf6480
Champion Author Miami

Posts:2,297
Points:955,115
Joined:Mar 2011
Message Posted: Sep 8, 2012 10:50:19 PM

more regs to cost both in taxes and jobs
Profile Pic
jrsva
Champion Author Virginia

Posts:12,396
Points:2,123,025
Joined:Jan 2006
Message Posted: Sep 8, 2012 10:49:05 PM


Studies underwritten by the oil and gas industry claim that it will be too expensive to do the job carefully and safely. Does this surprise anyone? Disclosing the chemicals used and assuring that the well bore is properly sealed to prevent leakage into groundwater are basic, minimal requirements.
Profile Pic
rozellep2
Veteran Author Illinois

Posts:325
Points:1,020,900
Joined:Aug 2005
Message Posted: Sep 8, 2012 10:46:46 PM

mmm
Profile Pic
boldrph
Champion Author Topeka

Posts:21,071
Points:3,956,845
Joined:Oct 2002
Message Posted: Sep 8, 2012 10:45:24 PM

industry shill
Profile Pic
mfeldstein
Champion Author Ottawa

Posts:10,378
Points:2,412,810
Joined:Feb 2007
Message Posted: Sep 8, 2012 10:45:16 PM

Good. Obama being the man he is, I'm sure he'll give all of this revenue to the poor.
Profile Pic
Blue48
Champion Author Illinois

Posts:9,653
Points:2,146,520
Joined:Feb 2007
Message Posted: Sep 8, 2012 10:42:10 PM

OK!
Profile Pic
RoadKing95
Champion Author San Jose

Posts:23,744
Points:4,113,265
Joined:May 2003
Message Posted: Sep 8, 2012 10:41:46 PM

Hmmm. Do I trust what Enron has to say? Do you?
Sounds self serving to me. But I'm sure Romneyhood would buy into it.
Profile Pic
goldrose1
Champion Author Cleveland

Posts:13,277
Points:2,411,245
Joined:Feb 2005
Message Posted: Sep 8, 2012 10:40:09 PM

We need water on surface, not pumped underground. Sure that influenced this year's drought.
Profile Pic
toadNY
Champion Author Albany

Posts:9,427
Points:2,024,510
Joined:Apr 2008
Message Posted: Sep 8, 2012 10:33:25 PM

Do You eibli? Do you know All the real Fact's? I know I don't.
Profile Pic
skyking19
Champion Author Little Rock

Posts:2,733
Points:2,117,835
Joined:Jan 2007
Message Posted: Sep 8, 2012 10:32:37 PM

Get out and VOTE!
Profile Pic
Goody2317
All-Star Author Wilmington

Posts:790
Points:954,860
Joined:Jun 2008
Message Posted: Sep 8, 2012 10:32:14 PM

Ok.
Profile Pic
mcmonsta
Champion Author Honolulu

Posts:5,351
Points:1,318,525
Joined:Sep 2009
Message Posted: Sep 8, 2012 10:32:07 PM

again its who pays for the study and what they base it on.
Profile Pic
mrinmoyd
Champion Author Illinois

Posts:1,100
Points:365,600
Joined:Jun 2011
Message Posted: Sep 8, 2012 10:31:51 PM

change it
Profile Pic
SammyAdams
Champion Author Tallahassee

Posts:5,477
Points:1,301,495
Joined:Nov 2010
Message Posted: Sep 8, 2012 10:31:49 PM

To: EnergyEngineer Re: Message Post: Sep 8, 2012 10:13:32 PM (Printed below)

"It's either we get our energy from this country or we continue sending 700 billions dollars a year overseas for energy. The government wants energy to come out of thin air, they also want to make doing business in America impossible. It isn't that hard for corporations to set up shop in other countries to escape the bureaucracy that is the U.S. government, until people realize this this country will continue on a downward slope."

==============================================================

That seems to be the plan, EnergyEngineer. BO is on a deliberate quest to destroy the American middle class which is evident in every policy that his administration advances.

Note from the article: "The proposed rule is unnecessary, excessive and requires actions that no state currently regulating oil and natural gas production deems necessary . . "

The STATE is where the authority for any regulation should emanate, NOT BO, NOT the EPA, NOT any agency within the Federal government, but the various states have the reserved authority to determine what is best for their citizens. Many states are asserting this authority on a myriad of issues and 2013 will be a test to see if we can survive as a nation. Get involved with the TenthAmendmentCenter.com and be a part of a REAL CHANGE.
Profile Pic
papa56NC
All-Star Author North Carolina

Posts:725
Points:142,760
Joined:Apr 2012
Message Posted: Sep 8, 2012 10:31:44 PM

Come on now
Profile Pic
serrog
Champion Author Nova Scotia

Posts:7,901
Points:2,020,935
Joined:Oct 2008
Message Posted: Sep 8, 2012 10:31:31 PM

Cheap if you lose your water
Profile Pic
bonzoonfmb
Champion Author Florida

Posts:2,540
Points:888,110
Joined:Feb 2010
Message Posted: Sep 8, 2012 10:29:57 PM

Let the states handle their own regulations.
Profile Pic
nsdp
Champion Author San Antonio

Posts:1,118
Points:77,285
Joined:Jun 2012
Message Posted: Sep 8, 2012 10:22:53 PM

I would take this with a large bit of salt. Remember EOG was originally ENRON Oil &Gas. As to drilling costs the extra cost will be minimal if they do it right the first time and don't cut corners. This is just like the old Amoco hands I worked with cutting corners on safety. BP bought Amoco and old Amoco employees were in charge of drilling Macondo and the "BP" refinery fire at Texas City. No wonder they are complaining they will have to do things right.
Profile Pic
carloco75
Champion Author Richmond

Posts:6,055
Points:1,097,270
Joined:Oct 2010
Message Posted: Sep 8, 2012 10:22:28 PM

That's all...
Profile Pic
geoutpb
Champion Author Midland Odessa

Posts:6,781
Points:1,535,935
Joined:Dec 2006
Message Posted: Sep 8, 2012 10:22:16 PM

Oil will only have to sale for more.
Profile Pic
WeasleyOC
Champion Author Orange County

Posts:5,404
Points:1,307,985
Joined:Jul 2008
Message Posted: Sep 8, 2012 10:17:32 PM

Obummer invoked in this?
Profile Pic
MadTraveler
Champion Author Idaho

Posts:2,082
Points:575,400
Joined:Nov 2009
Message Posted: Sep 8, 2012 10:15:39 PM

Leave it to government to screw us over and over again.
Profile Pic
mrbee
Champion Author Little Rock

Posts:6,104
Points:2,974,980
Joined:Oct 2005
Message Posted: Sep 8, 2012 10:12:46 PM

We really need change.
Profile Pic
BoerneWatch
Champion Author San Antonio

Posts:17,992
Points:2,963,965
Joined:Oct 2005
Message Posted: Sep 8, 2012 10:09:35 PM

No, no, NOOOO!!!

Get the feds out of my state's ground.

Fire that Marxist!

Let him and Jimmy Carter build some homes for humanity together.
Profile Pic
planoiceman
Champion Author Dallas

Posts:3,865
Points:800,645
Joined:May 2011
Message Posted: Sep 8, 2012 10:07:59 PM

Obama increasing costs again? What a surprise.

If you haven't seen the movie "2016: Obama's America", go see it. It explains a lot about our current president and what we could seein the next 4 years.
Post a reply Back to Topics