Fracking has become a common procedure for extracting natural gas, natural gas liquids, and crude oil from tight sandstone formations. The procedure is used by virtually every producer, including Chesapeake Energy Corp. (NYSE: CHK), Exxon Mobil Corp. (NYSE: XOM), Range Resources Corp. (NYSE: RRC), and others.
A new study on Pavillion’s water was released late yesterday by the U.S. Geological Survey (USGS) and it doesn’t do much to clear things up. The USGS took additional samples from two test wells in earlier this year, but under an agreement with the state the agency didn’t do much with the data it collected:
[T]he USGS did not interpret data as part of this sampling. Results are being provided to the Wyoming Department of Environmental Quality, EPA and the public. The USGS data, along with data that EPA has collected, will also be available to the peer review panel tasked with looking at the broader EPA study.
An EPA spokesperson has said that the new samples have produced results that generally support the agency’s conclusion in December that chemicals used in fracking are present in the groundwater. Encana has not responded officially to the new tests, but the Associated Press cites a spokesman who said that the test wells were “improperly constructed.”
The latest study results are available here.
Paul Ausick
Are You Ahead, or Behind on Retirement? (sponsor)
If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention. Many people have worked their whole lives preparing to retire without ever knowing the answer to the most important question: are you ahead, or behind on your retirement goals?
Don’t make the same mistake. It’s an easy question to answer. A quick conversation with a financial advisor can help you unpack your savings, spending, and goals for your money. With SmartAsset’s free tool, you can connect with vetted financial advisors in minutes.
Why wait? Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.