Parched Texans Impose Water-Use Limits for Fracking Gas Wells

Bloomberg reported that the intensifying drought in Texas is leading to limits on water consumption that for the first time target oil and natural gas producers.

As quoted in the market news:

Local water districts, which have authority to allocate water from subterranean aquifers, are adding a water-intensive production method called hydraulic fracturing, or fracking, to some of the pumping restrictions they’re imposing on farmers and small towns.

“The rumblings have definitely started in the last six months,” said Chris Faulkner, chief executive officer of Breitling Oil and Gas Corp., a closely held producer in Irving, Texas. “It used to be, ‘Are you going to contaminate my water;’ now the concern is, ‘You’re going to use up all my water.’”

Click here to read the full Bloomberg report