The facts show fracking technique is safe, Beach's boss tells detractors
Beach's operations in the Cooper were far removed from aquifers and had undergone a rigorous assessments process, he said. "There's no proven damage to aquifers and there's no proven increase in seismicity [earthquake activity] of consequence," Mr Nelson told ABC television on Sunday.
Beach Energy is expanding its Cooper Basin production by developing a shale gas project.
Mr Nelson said that while Beach has much to gain from hydraulic fracturing, or fracking, he is confident the technique is environmentally sensitive and safe. "I think people just need to look at the facts and make an assessment on the facts and not on perceptions or wild assertions that are made without any foundation," he said.
Last month, Beach Energy trimmed its full-year production guidance and announced a $349 million shale oil deal with US energy company Chevron.
Last week BHP Billiton signalled it was looking at shale opportunities in Australia as part of an expansion of its American shale operations. Shale oil and gas have transformed the US economy in the past five years, but in Australia the sector is in its infancy.
Frequently Asked Questions about this Article…
Beach Energy's managing director Reg Nelson has said fracking in the Cooper Basin is safe, noting operations are far removed from aquifers and have undergone rigorous assessments; he also stated there is no proven damage to aquifers or any proven increase in seismicity of consequence.
Beach Energy says its Cooper Basin operations are located well away from aquifers and have passed rigorous assessment processes, and the company points out there is no proven damage to aquifers based on those assessments.
According to Beach Energy’s managing director Reg Nelson, there is no proven increase in seismicity of consequence linked to their Cooper Basin fracking operations.
Beach Energy is expanding Cooper Basin production by developing a shale gas project in the region, which the company says will grow its output.
Yes — the article reports Beach Energy announced a $349 million shale oil deal with US energy company Chevron and also recently trimmed its full-year production guidance.
BHP Billiton has signalled it is looking at shale opportunities in Australia as part of an expansion of its American shale operations, though the Australian shale sector is still in its infancy.
The article notes shale oil and gas have transformed the US economy over the past five years; by contrast, Australia’s shale sector remains in its infancy, suggesting potential growth but also early-stage risks and uncertainty.
Beach Energy’s view, as stated by Reg Nelson, is that investors and the public should look at the facts and rigorous assessments rather than perceptions or unfounded assertions; everyday investors should consider the company’s reported assessments, regulatory reviews and disclosed deals when evaluating risk.
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