Only 1 company has registered to fracture oil in Illinois, 2 months since rules put in place

bug


We also have more stories about:
(click the phrases to see a list)

Subjects:

Places:

 


SPRINGFIELD, Illinois — Two months since Illinois enacted rules for high-volume oil and gas drilling, no company has applied for a state permit to put hydraulic fracturing to use.

The (Springfield) State Journal-Register (http://bit.ly/14MBk51) reports Denver-based Strata-X Energy registered Nov. 14 with the Illinois Department of Natural Resources. But the company hasn't formally applied to begin so-called fracking.

The Illinois Oil and Gas Association's Brad Richards believes the slow response may be because of the state's delay in adopting regulatory rules, as well as low oil prices that may have discouraged energy companies.

Strata-X's chief financial officer, David Hettich, says the company holds oil and gas exploration rights to 67,000 southern Illinois acres. But he says the company still is working through how to best manage the complicated fracking rules.


Information from: The State Journal-Register, http://www.sj-r.com

All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Click here to read our privacy policy.