Parkdota, I'm bad with math and numbers, but isn't this a year old? By his prediction we should already be in the ban phase right now.
According to him The EPA was supposed to issue a moratorium on all fracking in Jan 2012 (which already passed) He is "predicting" events that were supposed to happen in 2012 We are to be able to frac again after Jan 2013 - until that date, no fracking according to his prediction.
I admit I am the guy who usually reads numbers wrong. most of my teachers would tell you how dumb I was. But, his prediction should already be underway with a blanket moratorium all over the US.
here is a link to the article. i guess the date did not copy and paste in your post.
Do you have a link to the Cramer story? Was that where this old ND story came from? It seems like we have heard this week Jim Cramer (of Mad Money?) said there could be a ban on Fracking? He's been a strong supporter.
Or, did he say that natgas needs a ban on fracking to rise in price? that is very significant if he did and I would like to know. Did Cramer say that natgas NEEDS a ban on fracking to rise in price?) (but we are up to $3.60 so that does not make sense either if he said it this week)
You said that Jim Cramer has been talking about this all week on "MSNBC" (your words) Isn't that the liberal TV station and doesn't Jim Cramer have a show on CNBC, the biz news station? I don't watch MSNBC, but I could not find anything about it on their website either.
Here are the search results from CNBC for the words fracking and ban (in any other) The only recent story is Oct 4, where a court struck down a local moratorium (ruled in favor of fracking) Nothing else recently even comes close - and I've read the show recaps and nothing is mentioned on them.
However, I admit I am usually the dumb one here and I may have missed it. But, all these other smart folks on GHS apparently missed it also because no one else has reported it. It seems like if Cramer seriously said there would be a ban on fracking that our blog would light up like an old fashioned pinball machine. The only reference to a ban on fracking is a NY court striking down a local ban on fracking (yea!!)
Yeah, it was CNBC not MSNBC. The latter is on my mind bc of the elections et al. I don't have a link but I specifically heard him say 3 times this week on 3 different days that he's concerned about a possible moratorium in the short term if the current administration wins reelection. I watch the show most all of the business day(s). His comments really caught my attention bc like you said I haven't heard anything about the topic, although I understand that our area is pro drilling. It was so out of the blue that it concerned me especially seeing as how pro natgas Cramer is. I have no doubt that he can spew hot air at times but the fact that he kept mentioning it really made me want to explore the topic to see if any of the pros on this site were also concerned. He specifically mentioned the old article with the name of the gentleman head of drilling oversight in that state. I day trade UNG many days so my ears are highly sensitive to natgas info.
OT/ I've thought about trading UNG myself. I haven't traded any kind of commodities in many, many years (since about 1980? when I got massacred from the gold collapsed. that still hurts 30 years later!)
2011 news, thanks.
Yeah, and they mentioned today on CNBC again....two weeks in a row. You're brilliant.
Question: Once the well is in and producing is that the end of fraking for that well?
Reason asking..have been wondering why Cheaspeak is drilling several wells in Johnson county and capping them til all wells are completed...if they were trying to bring them in before fraking was halted.
Seems like a smart move on their part.
From what I understand once the well is completed fracking is finished. I would assume that Chesapeake and others are drilling and capping due in part to prices. If memory serves, Chesapeake did not hedge not 1% for all of 2012. It is possible, however, that they might be trying to perform a gas factory concept like Encana if the wells you mention are in the same section(s). Encana drills all wells at once in a section (they aren't doing this often btw) and completes them at the same time at the end of the process.
I would like to think that the Fed doesn't have the nerve to halt fracking but it is concerning. NY and some other states are having issues and I know the EPA would love to flex their muscles.
Note there are no Windmills on East Coast ...regulated out. And we see what happened to Coal. And the few Steel plants we used to have here...two in Texas gone. Offshore drilling was halted in Gulf and not allowed at all to begin with in other locations.
So EPA can do whatever they pretty much are told to do.
Thanks Parkdota for the answer.
Yes the 11 CHK wells are all in one section or unit in Johnson Country..
Tonight I will be worrying and watching the debate.
Vertical wells can be fraced multiple times, horizontals can not ( I'm not speaking of frac stages here). Wells are drilled to TD and cased and then wait for the contractor that provides completion services (fracing). In other words the drilling contractor does not provide completion services. When drilling is done, the rig is off to the next well. The completion contractor usually works for multiple operators and can't be standing by every time a well is ready for completion. So wells often sit drilled but not completed waiting their turn in the schedule. I seriously doubt any moratorium on fracing will be implemented. And I wouldn't waste my time on the pronouncements of Mr. Cramer.
Yes I have watched the Halliburton crews move in..Its beautiful..they have long cavarans of their equipment rolling to the sites...its a sight to see all that expertise moving in.
My Daddy talked about Red Adair back in old days of how his team would move in and go to work..said it was really a show..as they fought the well fires back when.
If it had not been for the fire fighters from here in Texas going to Saudi to fight the fires there would be fewer wells there to this day. It took Texas and US technology to fight those fires...just as it did to figure out the fracking tech.
I miss those Halliburton rigs coming in around here.
But I get a kick out of watching those huge huge pieces of equipment work in the Lignite mines near here...those are really impressive things.
I enjoy watching the doziers and track hoes building the pad sites...
It is always fun to watch construction moving along.
Miss all that in this 'slowdown' or whatever it is this period of time is called.