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Thursday, September 20, 2012

A waterless fracking technology myth? UPDATE: Yep

In posting about the potential of waterless, chemical- free fracking technologies, I've written repeatedly that any new technology must be proven and accepted by the natural gas industry; its impacts must be understood; and regulations governing its use must be developed.  In other words, every new technology that aims to solve the vexing problems of water and chemical use in unconventional gas drilling must have its tires thoroughly kicked.

Apparently, in the case of one such “technology,” it doesn’t take much of a kick for the wheels to come off.

In a post on August 27, I mentioned dry or “exothermic” fracturing as one possible developing technology.

“For weeks, a com­pany called Chimera Energy Corp. has been issu­ing news releases tout­ing the emer­gence of its “exother­mic non-hydraulic extrac­tion” tech­nol­ogy. The firm says the process elim­i­nates the need to use chem­i­cally treated water to extract oil and gas locked in tight under­ground for­ma­tions, and in releases Chimera says it’s mov­ing to test the tech­nol­ogy in Mex­ico through a con­tract with that nation’s state-owned energy giant, Petróleos Mex­i­canos, or Pemex.
How­ever, com­mu­ni­ca­tions with Pemex offi­cials turn up no record of any such con­tract with any com­pany named Chimera Energy, or with that company’s sole exec­u­tive, listed on Chimera’s web­site as Charles Grob.”

Aug. 18, 2014 update: reports that the U.S. Securities and Exchange Commission (SEC) has charged Chimera Energy and four individuals with securities fraud. Chimera, indeed.

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