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API celebrates 65th birthday of fracing

WASHINGTON, D.C. -- With birthday cards and a social media campaign, API celebrated the 65th birthday of the technology that has spurred an energy revolution in America—hydraulic fracturing or fracing.

“Americans have long been energy pioneers, from the 1800’s when the first wells were drilled to today,” said API Director of Upstream and Industry Operations Erik Milito. “As part of that history, on March 17, 1949, we developed the technology to safely unlock shale and other tight formations, and now the U.S. is the world’s largest producer of oil and natural gas.”

The birthday cards featured a black and white photo of one of the world’s first commercially fractured wells located in Duncan, Oklahoma.

“Thanks to fracing, we can produce more energy, with a smaller environmental footprint—changing America’s energy trajectory from scarcity to abundance,” said Milito. “This is a birthday worth celebrating.”

In 2012, unconventional resource development utilizing hydraulic fracturing increased disposable income by an average of $1,200 per household, supported 2.1 million American jobs, and contributed $284 billion to the U.S. GDP, according to a study by IHS. By 2025, IHS reports that unconventional drilling will support 3.9 million jobs, including 515,000 positions in manufacturing.

03/18/2014

 

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