• 1 hour Saudi Aramco CEO Affirms IPO On Track For H2 2018
  • 3 hours Canadia Ltd. Returns To Sudan For First Time Since Oil Price Crash
  • 4 hours Syrian Rebel Group Takes Over Oil Field From IS
  • 3 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 3 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 3 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 3 days Schlumberger Warns Of Moderating Investment In North America
  • 3 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 3 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 3 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 3 days New Video Game Targets Oil Infrastructure
  • 3 days Shell Restarts Bonny Light Exports
  • 3 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 3 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 4 days British Utility Companies Brace For Major Reforms
  • 4 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 4 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 4 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 4 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 4 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 4 days Rosneft Signs $400M Deal With Kurdistan
  • 4 days Kinder Morgan Warns About Trans Mountain Delays
  • 4 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 5 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 5 days Russia, Saudis Team Up To Boost Fracking Tech
  • 5 days Conflicting News Spurs Doubt On Aramco IPO
  • 5 days Exxon Starts Production At New Refinery In Texas
  • 5 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 6 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 6 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 6 days China To Take 5% Of Rosneft’s Output In New Deal
  • 6 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 6 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 6 days VW Fails To Secure Critical Commodity For EVs
  • 6 days Enbridge Pipeline Expansion Finally Approved
  • 6 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 6 days OPEC Oil Deal Compliance Falls To 86%
  • 7 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 7 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 7 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
Will Demand For Offshore Rigs Ever Recover?

Will Demand For Offshore Rigs Ever Recover?

Offshore drilling companies have struggled…

Oil Drilling Firm May Disclose All Its Fracking Chemicals

Oil Drilling Firm May Disclose All Its Fracking Chemicals

Oil field services firm Baker Hughes says that it is considering disclosing all of the chemicals it uses in its fracking operations. In a statement posted on its website April 24, the company said it “believes it is possible to disclose 100 percent of the chemical ingredients we use in hydraulic fracturing fluids without compromising our formulations — a balance that increases public trust while encouraging commercial innovation.”

Baker Hughes said it believes that making its chemical use transparent will enhance public trust in fracking, which has been shaken by reports of negative health consequences for people who live near drilling sites. A jury in Texas just awarded a family $3 million in damages after they suffered health problems as a result of a fracking site near their home.

The fact that Baker Hughes explicitly said it would divulge 100 percent of the chemicals it uses suggests that it would not make exceptions for trade secrets. But the company did say that it would only disclose the chemicals “where accepted by our customers and relevant government authorities.” It is conceivable that a firm contracting out Baker Hughes for drilling operations would object to the disclosure.

Several large oil companies, including ExxonMobil and Chevron, have resisted shareholder advocacy campaigns calling on them to disclose, but they have resisted, saying such a move is unnecessary because they already report everything to state regulators. 

Related Article: Jury Awards $3M To Family In Fracking Lawsuit

Now, the fact that Baker Hughes believes it will not lose a competitive edge by disclosing its entire slate of chemicals will put greater pressure on other companies to follow suit.  At the very least, it sets a new standard for transparency in the oil and gas sector.

Some companies have voluntarily disclosed the chemicals they use during fracking on the web site FracFocus.org (a website partially funded by Department of Energy and the shale industry) but many companies avoid listing all of them, citing trade secrets.

According to a DOE study, about 84 percent of wells registered on FracFocus.org do not have data on the chemicals used because of trade secrets.

The federal government is set to finalize regulations on fracking on public lands later this year, which would require full disclosure of chemicals.

By Charles Kennedy of OIlprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News