Baker Hughes (ticker: BHI), the $26 billion (marketcap) oilservices provider with oil and gas operations in 80 countries, flipped the switch Wednesday on its new policy of disclosing 100% of the chemistry in its hydraulic fracturing fluids. The company said chemical disclosure will be done without detailing specific product formulations.
For each fracturing job beginning on or after October 1, 2014, Baker Hughes will disclose a single list of all of the chemical constituents of its products used, while also specifying their maximum concentrations. Baker Hughes said its policy is fully compatible with the online national hydraulic fracturing chemical registry known as FracFocus. All of the company’s disclosure forms can be found at www.fracfocus.org.
“Introducing greater transparency about the chemicals used in the hydraulic fracturing process and protecting the ability to innovate are not conflicting goals,” Baker Hughes chief strategy officer Derek Mathieson said in a company news release. “… We have a responsibility to provide the public with the information they want and deserve. It simultaneously enables us to protect proprietary information that is critical to our growth.”
Most state regulators do require that companies keep complete lists of all chemicals used in downhole and surface operations at a well site and disclose them to the regulating body upon request. Fracfocus.org maintains links to all state oil and gas regulations in the U.S.
[sam_ad id=”32″ codes=”true”]
Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. The company or companies covered in this note did not review the note prior to publication. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.