Happy 65’th Birthday Hydraulic Fracturing!
According to an article in “Rigzone,” the first commercial hydraulic fracturing (frac) job took place on March 17, 1949 in Duncan, OK. The American Petroleum Institute (API) is commemorating the event with birthday cards and a social media campaign.
The API is sending digital birthday cards with a black and white image of the first frac job with links to a blog with more information on the history and success of the technology. Fracing has been used on over a million wells nationwide and currently accounts for most U.S. natural gas production.
Erik Milito, the API Director of Upstream and Industry operations, stated that “Thanks to fracing we can produce more energy with a smaller environmental footprint-changing America’s energy trajectory from scarcity to abundance. It is a birthday worth celebrating.”
A study by the internationally renowned consulting firm IHS, fracing increased disposable income by an average of $1,200 per household in 2012, supported 2.1 million jobs, and increased Gross Domestic Product (GDP) by $284 billion. By 2025 they predict that 3.9 million jobs will be attributable to this unconventional drilling and completion technology.
To read the article in its entirety, please go to http://www.rigzone.com/news/oil_gas/a/132135/API .