U.S. Energy Department directs $30 million to small oil, gas projects

January 3, 2018

Six small U.S. oil and natural gas drilling projects will receive about $30 million in federal funding for research and development to help achieve President Donald Trump's policy of boosting output of fossil fuels, the Energy Department (DOE) said on Wednesday.

The projects, selected by the DOE under the direction of Congress, are in what is known as unconventional shale development. They currently produce less than 50,000 barrels per day each.

Unconventional oil and gas production uses advanced techniques such as hydraulic fracturing, or fracking, and horizontal drilling to reach pockets of resources that are trapped by rock and sand formations.

Read more on Reuters...

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