ExxonMobil Outlines Risk Management Practice for Fracking
US oil and petrochemicals group ExxonMobil has released a report to shareholders detailing how it assesses and deals with the risks of developing unconventional resources, including hydraulic fracturing, or fracking.
While saying that fracking "has been used responsibly and safely by the oil and gas industry for more than 50 years, the process is not without risks," the group said.
At the same time, ExxonMobil noted that unconventional natural gas and oil development in the US "has resulted in widespread benefits, including significant job creation, reduced CO2 emissions, lower energy costs, new sources of government revenue and improved energy security."
Highlighting what Jeffrey Woodbury, vice president of Investor Relations said were "numerous studies that support these trends," the report is said to present information on "how the application of sound management practices that protect human health and the environment can be deployed to continue supporting the significant benefits of resource development."
