Oil prices are staggeringly low, and that has led to many bankruptcies in the oil and gas industry.
Fracking has created thousands of jobs, and it drastically cushioned the blow of one of the biggest financial crises our country has ever had to face. Like everything in the energy sector, there are booms and busts in fracking, and right now, we are in a bust. Due to the incredibly low oil and gas prices, thanks in large part to fracking, and an overabundance of supply, many fracking companies have had to declare bankruptcy. By one estimate, over a third of the world’s oil and gas exploration and production companies are at risk for bankruptcy. This had led to a call for more affordable solutions, and at Well Water Solutions, we are proud to say that we are here to answer that call.
How can we help you save?
- Above ground storage tanks – Frac ponds have been criticised for so many reasons, but one of the main reasons is how prone they are to leaks. Leaking frac ponds have led to the contamination of groundwater, which for many companies, means lawsuits. Avoid the legal fees and large payouts by choosing an above ground storage tank that you can rely on.
- Insulation – When the frac water you need is frozen, it can cost you in both time and money to thaw it out. Our water storage tanks come complete with an insulated floating cover, insulated sidewalls and a geo floor liner — all designed for the very best heat retention.
These are just a couple of the many ways we can help you save more and stay afloat. Stay tuned for our next blog to learn more.