Halliburton Cut Fracking Water Costs by $400,000 a Bakken Well
Halliburton Co. (HAL), the world’s largest provider of hydraulic-fracturing services, boosted savings from the use of recycled water in the drilling technique to as much as $400,000 a well last year.
Halliburton changed the chemistry of the water, chemical and sand combination blasted underground to free trapped hydrocarbons, increasing savings from about $6,000 a well in 2011 to as much as $400,000 in 2012 for some wells in North Dakota’s Bakken field, said Walter Dale, head of water management for the Houston-based company.
“It is a paradigm shift for the industry,” Dale said today in an interview at IHS CERAWeek in Houston.
Bakken wells cost an average $10 million to drill and complete in the fourth quarter, Hess Corp., which holds 800,000 acres in the region, said in a slide presentation March 4. As local and federal regulators raise questions about water consumption from drilling operations, U.S. oil and natural gas producers are asking service companies to improve their handling of the millions of gallons of fluids involved in fracking an average well.
Halliburton’s goal is for the entire oil and gas industry to use an average of 25 percent less fresh water in fracking jobs by the end of next year, Dale said.
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