Why this change? As fracking has grown, thousands of new wells have been made possible. Many of these new wells are located near highly populated areas. Energy executives are now more aware than ever of the importance of maintaining a positive relationship with the community.
Whether answering questions, discussing techniques or listening to suggestions; energy executives want to reassure the public that the shale boom can continue safely.
Today, many are wondering what the long-term effects of fracking will be. According to former Shell Chairman, Mark Moody-Stuart, “I believe that the issue with fracking is not what goes on down the hole and in the reservoir, provided the regulatory control over the standards is good. The problems are often to do with land usage, the continuous drilling operations needed to support production and the use of water in water-short areas.”
While many are hopeful of expanding the fracking industry to Europe, some are not optimistic about the possibility of this becoming a reality. Until the rest of the world adopts more public-friendly property-rights and royalty-payment plans, the thought is basically this, “Why would you be in favor of drilling on your property if you don’t stand to gain anything from it?” This is true in circumstances where mineral rights are controlled by governments as opposed to being controlled by the individual. Concerns that have had to be addressed vary from increased truck traffic, polluted drinking water and even the possibility of climate change.
At Payson Petroleum, we pride ourselves on transparency with our partners. To us, you are not just another number on our balance sheet. When you work with us, you become a member of our family.