EOG Resources Inc. (EOG)

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Liquid Gold
Increased Fracking Creates a Burgeoning Water Services Industry
By G Joel Chury

Hydraulic fracturing or fracking is the process whereby hydrocarbons are freed from within shale rock deposits by pressurized water and additives. Such is the hunger for energy that 80% of all new North American oil and gas drilling now utilizes this technique, which, in its current form, is barely a decade old. Fracking requires enormous amounts of water, which has midwifed the birth of a highly lucrative water services industry.

For every horizontal well that is drilled, the fracking involved uses two to six million gallons of groundwater. This year, in the United States alone, the industry is projected to use anywhere from 70 billion to 140 billion gallons. Water services can amount to up to 30% of the initial costs of a new well.

Read more about well servicing, fracking, and energy. http://resourceclips.com/2012/04/03/liquid-gold/