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Halliburton Company (HAL), Chesapeake Energy Corporation (CHK) – OK, New York: It’s Time to Lift the Fracking Ban

The other concern is that methane gas from a well could end up in drinking water. A few years ago, a well drilled by Cabot Oil & Gas Corporation (NYSE:COG) in Dimock, Pa., had been linked to being the root cause of methane gas found in water wells in that town. However, the industry has gone to great lengths to ensure the safety of the drilling of wells in an effort to completely mitigate these concerns. The industry continues to improve the well completion process, with safety being a very high priority for the industry.

Clean water
The whole issue of clean water is one the industry has also taken very seriously. Not only are drillers switching to safer fracking fluids, but many are also turning to recycling the frack water so that less freshwater is used. One company that’s leading the way is Chesapeake Energy Corporation (NYSE:CHK). The company is working to recycle most, if not all, of the water it uses in fracking.

In fact, its Aqua Renew process enables the company to filter and reuse 97% of the wastewater produced at its northern Marcellus operations and 89% of its wastewater from the Utica. Overall, the industry is working on a number of initiatives designed to reduce, reuse, and recycle water. Going back to Halliburton Company (NYSE:HAL), it has recently partnered with Nuverra Environmental Solutions Inc (NYSE:NES) on a pilot program in the Bakken Shale to recycle wastewater on site, as opposed to trucking it to offsite recycling facilities or simply pumping the produced water down disposal wells. This project, H20 Forward, aims to leverage Nuverra Environmental Solutions Inc (NYSE:NES)‘s vast network and knowledge with Halliburton Company (NYSE:HAL)‘s technology. If successful, the service could significantly cut freshwater usage and trucking volumes.

Final Foolish thoughts
The hydraulic fracturing process has changed dramatically over the past few years. The natural gas industry has worked feverishly to clean up, and even green up the process. That’s why it’s really time for my home state of New York to lift its moratorium on the process, so the state’s residents can enjoy the economic prosperity that would come from unleashing the power of the natural gas locked underneath the state.

The article OK, New York: It’s Time to Lift the Fracking Ban originally appeared on and is written by Matt DiLallo.

Fool contributor Matt DiLallo owns shares of Nuverra Environmental Solutions. The Motley Fool recommends Halliburton, owns shares of Nuverra Environmental Solutions, and has options on Chesapeake Energy and Nuverra Environmental Solutions.

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