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Message: Questerre publishes Utica shale water use fact sheet.
Taken from Questerre's own news page: http://www.questerre.com/en/investorcenter/press-releases/2010/questerre-publishes-utica-shale-water-use-fact-sheet/
I hope this article allays some of the concerns of the environmentalists out there. I have to admit I'm a little surprised by the voracity of the 'green' movement in Quebec - but not annoyed by it. The development of the field and extraction of gas need to be executed in a manner that satisfies not only the coffers of the province but also the environment for its inhabitants. In my opinion the company statement below does exactly what it sets out to do and answers many of the misconceptions out there. I only hope it's interpreted the same way by those living in the vicinity.
Despite the recent SP fall (ouch!), I remain convinced that QEC is actually a less speculative stock than before. I hope that (even limited) production and a connection to the pipelines come sooner rather than later though. Not necessarily to pump up the SP, just to give it some stability. I think that would also go a long way to removing the 'speculative' tag still issued by brokers.
There's a lot of potential income for the province at stake here. Quebec has the chance of satisfying its own gas demands and providing new jobs in what remains a difficult economic climate. If the gas can be extracted in a cost-effective manner that also satisfy's the environmental lobby we have a win/win situation for everyone involved. 'Our' little Questerre Energy remains one of several companies positioned to help bring prosperity to the province (as well as its shareholders). Patience is a virtue...
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Calgary, Alberta -- Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) released today a fact sheet detailing the estimated water usage and fresh water protection techniques for the development of the Utica shale in Québec.
"Québecers have expressed their concern how shale gas development will affect this valuable resource," said Michael Binnion, President and Chief Executive Officer of Questerre. We believe this fact sheet will demystify some of the issues around water usage. It explains how we will prudently use water and how we will protect the fresh water sources."
The fact sheet entitled, "Water Use in Utica Shale Gas Development", includes a comparison of the expected water usage by the industry in Québec to other users as well as how the water is sourced, analysis of the water from fracturing operations and the measures taken to protect fresh water aquifers.
"There seems to be a misconception about the amount of water used to drill and hydraulically fracture a shale gas well. The shale gas industry is actually a light industrial user of water," said Mr. Binnion. "In full development, the industry is estimated to use less water a year than car washes in the province and about one half of one percent of the water used by the pulp and paper industry in Québec."
"The water used for shale gas development is very efficient and we are continuing to improve this efficiency. Our plan is to recycle and reuse as much as 100% of the water recovered from the hydraulic fracturing operations, which is approximately 30-50% of the total water used."
"The amount of water used to create energy with natural gas is actually very effective," added Mr. Binnion. "If we were to put this usage into context, it would take less than one litre of water per day to heat a home with natural gas from the Utica shale. By comparison the average Québecer uses almost 400 litres of water a day."
As part of its ongoing commitment to transparency, Questerre was the first company in Québec to disclose publicly the additives it uses in its hydraulic fracturing operations. That list and this water use information fact sheet are both available on the Company's website at www.questerre.com.
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