Fracking Settlement Changes the Game

I ran across this May 2014 article talking about this "massive fracking settlement."

I know the real concern is the price of a barrel of oil these days, but do you'all know whether this kind of action is of any real concern now in 2016? If so, how big a concern is it?

Article notes, "...Dallas jury awarded the Parr family $2.9 million for personal injury and property damages in the family's lawsuit against Plano-based Aruba Petroleum Inc."

Below is the article link.

Fracking Settlement Changes the Game

Posted by Christina B. Farnsworth

May 7, 2014 11:21:00 AM

A MASSIVE FINANICIAL SETTLEMENT has sent shudders through the fracking industry. Considered one of the worst manmade threats to our fresh water, fracking faces growing opposition, and this verdice shows that juries will not be swayed by the industries deep pockets and slick lawyers.

National Public Radio (NPR) is among the media outlets that reported a Dallas County jury award of $2.95 million dollars for personal injury and property damage to the Parr family.

“The fracking industry has really just taken off in the last three or four years. So really this is a new problem to the extent that we’re seeing cases now that are getting a verdict,” David Mathews, a lawyer representing the Parr family, told NPR’s StateImpact Texas.

- See more at: http://www.greenbuildermedia.com/news/blog/news/fracking-settlement-changes-the-game#sthash.YXIRuoBd.dpuf

It is basically a press release, probably put out by the law firm.

I am not too concerned about lawsuits in Texas putting a damper on shale drilling. The courts are so conservative here, that it is very hard to prove the link between shale drilling and health effects. The anti-hydrocarbons crowd has been pretty effective about creating some hysteria on this topic, but the fact remains that the documented cases of groundwater contamination or gas leaks are very few. Actually, the seismic activity from salt water disposal is a bigger concern. About 87% of our electricity is generated from coal and hydrocarbons, so unless people are willing to read by candlelight, it would take decades to shift to total renewable energy for power generation. The most state and federal governments can do is nudge us in that direction. They cannot afford the cost of a drastic shift, and the public is not going to put up with the sticker shock either. There may be some over reactions On the local, state, or federal level, but I see these as being reined in eventually.

Wade,

Thanks for the perspective. It is true the media likes to hype for attention.

You ever hear any news from the Cimarex people? I see they have gained approval for a new horizontal well along my SE property line and the two wells they drilled next to my SW property line are pretty good ones. I remain hopeful.

Will