U.S. Energy Department directs $30 million to small oil, gas projects

4 Jan 2018   Shale Oil, USA

Six small U.S. oil and natural gas drilling projects will receive about $30 million in federal funding for research and development to help achieve President Donald Trump’s policy of boosting output of fossil fuels, the Energy Department (DOE) said on Wednesday. The projects, selected by the DOE under the direction of Congress, are in what is known as unconventional shale development. They currently produce less than 50,000 barrels per day each. Unconventional oil and gas production uses advanced techniques such as hydraulic fracturing, or fracking, and horizontal drilling to reach pockets of resources that are trapped by rock and sand formations. The selected projects are at sites including the Tuscaloosa Marine Shale in Louisiana and Mississippi that has been estimated to contain 7 billion recoverable barrels of light, sweet crude oil and the Huron Shale in Appalachia, which is rich in natural gas. Funding the projects […]

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