Published on : Apr 20, 2016
Hydraulic fracturing involves the extraction of natural gas and petroleum by means of injecting water along with chemical additives and propping agents. High temperature and pressure are employed to generate and open a network of fractures for enhancing rock permeability. The adoption of hydraulic fracturing for extracting shale gas, shale oil, tight oil, tight gas, and coal bed methane results in considerable cost and time savings, which is one of the foremost reasons for the adoption of this technique to be on the rise.
China’s shale gas deposits are predominantly in three giant basins: the Ordos Basin, the Sichaun Basin, and the Tarim Basin. The shale reserves in these fields are buried thousands of feet below ground level and the only means to reach these reserves is through hydraulic fracturing technology. The presence of shale deposits in China will offer tremendous growth opportunities for the global hydraulic fracturing market in the years to come, this is because China accounts for the world’s highest demand for oil and gas and it is increasing steadily.
In the U.S., the shale revolution manifests the dramatic increase in the production of shale oil and gas due to the utilization of hydraulic fracturing. Post the 2008 global recession, the shale revolution in the U.S. has been a boon and has immensely benefitted the nation for employment rate and economic growth. Political support has also aided in shale oil and gas production, elimination of restrictive policies and consistently increasing support for hydraulic fracturing techniques are reasons for this. The progression of the shale industry in the U.S. has offset losses incurred by the nation due to recession. In the U.S., the execution of hydraulic fracturing technology has led to significant rise in oil and gas production.