How Dying Gas Wells Are Making One Company Rich

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Bloomberg Quicktake: Originals

Bloomberg Quicktake: Originals

11 aylar önce

Bloomberg travels to America's Appalachian mountains to investigate reports that old natural gas wells across the region are leaking greenhouse gases at an alarming rate.
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YORUMLAR: 2 409
Bloomberg Quicktake: Originals
Bloomberg Quicktake: Originals
Don't miss the first part of this Storylines series about Texas Oil Country's Invisible Secret:
In my opinion
In my opinion
I heard about a family that had a low producing well on their property. They used that well to heat their home, hotwater and used it for their cooking stove. I thought how lucky is that? Yearly they saved a ton of money on the cost of maintaining their home. Especially with the cost of oil and gas today.
performancemustang
performancemustang
As a engineer you don’t have to plug wells to stop leaks. You just need to rebuild the well systems (pipeline) and use stainless steel that will last for years and never Break down over time like iron pipes do. It’s not hard to shut a well off and rebuild it. Can be done it a matter of days on larger well. Hours on smaller wells.
spider0804
spider0804
Almost all of these leaks can be fixed by taking a few hours to disassemble the piping and re doping the joints. It is not hard or costly. They could have a few people just do this every day for a year or two to fix all the wells. I have dealt with gas piping as a maintenance tech. They would probably even make money by increasing the yield of the wells too.
Epic Aquariums
Epic Aquariums
This is the type of news I like seeing investigative reporting and for something that will help generations after us. Great content
Peter Silva
Peter Silva
I would be shocked, truly shocked... if I found out that oil and gas companies provided seed money for diversified, and then sold their "assets" to Diversified.... I can't think of a more profitable and efficient way to get these liabilities off their books.
Karl Vanzat
Karl Vanzat
Great report, thank you. This continues to be a big issue around the country, and much relates to the almost nonexistent bonding obligations impose on the industry and increasingly weaker regulations for abandoned wells. These companies get billions in subsidies that we all pay for, but they do nothing to plug these wells which affects us all, including the children of the company owners.
Bill Smith
Bill Smith
Even if there is already an agreement in force, a lot of what I'm seeing can be substantially reduced with pretty simple plumbing repairs. They won't be as permanent as plugging, but they would reduce the leaks dramatically.
David Mizak
David Mizak
You provide such great material to your viewers. I appreciate all of your hard work. I truly appreciate it!
Brian
Brian
"At the end of the day what we're really focused on is our commitment to our share holders" - Rusty Hutson, Diversified Energy CEO. In that one sentence, he told the world that his company won't be doing anything substantial to stop the methane gas that is leaking from their tens of thousands of gas wells.
bob white
bob white
This is a well done documentary for sure. No high-pitched wailing about disaster, but a calm, reasoned explanation of how death by a thousand cuts can occur over time. A difficult problem to solve, as illustrated by the back and forth between regulators and companies. Perhaps the regulators should focus less on the expensive well plugging, and insist that piping maintenance be done at a much faster pace. That may very well reduce the amount of escaped methane to a quite reasonable level much faster than the agreement to plug 20 wells a year.
Robert Curry
Robert Curry
45 years ago I came across many leaking wells in West Virginia and was pretty stunned. I was informed it's just business as usual. As a fifteen year old kid concerned about the environment this seemed totally unnecessary and foolish. But of course the companies already know this.
Karnegis
Karnegis
I inspect natural gas wells for an air district in California. The FLIR IR camera only finds large leaks. I prefer to use an Eagle 2 analyzer it is much cheaper than the FLIR ($7,000 vs $90,000) and detects much lower emissions of methane (I am trained to use both devices). The Eagle 2 also gives a quantifiable reading in ppmv and it is hand held unlike that contraption the professor was using.
TheKuma109
TheKuma109
This is fantastic journalism! Nice work and on such an important and overlooked issue.
Francesco Paci
Francesco Paci
I think that Diversify is a shell company to which other companies sell exhausted gas pumps in order not to pay for their closure.
Art by Jeremy Maya Robinson
Art by Jeremy Maya Robinson
We need more people doing this.
Burning Okane
Burning Okane
Never heard of a "frac well" but what is shown is a drilling rig burning off excess gas that was being pushed up during drilling. Frac is hydraulic fracturing which the drilling is already done. They're trying to open the formation to allow more gas to be produced.
Llew -
Llew -
Super informative. Thanks for doing all the leg work to bring this to everyone's attention.
John Pham
John Pham
This reminds me of a project where I helped initiate and calculate wasted and leaking nitrogen. We ended up saving roughly 80%, reducing annual costs from about $1million to $200k.
BeaterWRX
BeaterWRX
I love how Bloomberg spends money reporting on problems that can be directly tied to the financial industry they make all their money from. Feeling a little guilty the billionaire tosses us some crumbs.
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