The aim is to collect data, develop and validate quantitative risk assessment methodologies and outline risk management strategies that can be widely accepted by all relevant parties.
The shale industry encompasses a number of companies, so aggregated, quantifiable fracking related data is hard to come by. This makes it more difficult for various stakeholders to assess fracking risk at various well depths, geological formations, and mixes of fracking solution components. Risks are mitigated by utilizing various well design barriers that are intended to protect groundwater resources.
DNV GL wants to bring together key stakeholders from all over the world: operators, service companies, academics, financiers, regulators and other interested parties. The objective is to collect and analyze shale gas fracking related data, apply statistical methodologies and then define quantitative measures of fracking risk to both horizontal and vertical portions of a well.
American Water Works is in talks about providing more services to fracking companies, Bloomberg reported earlier this month.
The news agency says the water utility’s CEO Susan Story is in discussions with energy producers about treating and reusing frack water that would otherwise be disposed of.