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Exploration & Production

Fracking scare hits US property values

Properties close to shale gas wells and dependent on groundwater for drinking have seen a drop in value, prompting some to ask if enough is being done to convince the public that the process is safe Properties close to shale gas wells and dependent on groundwater for drinking have seen a drop in value, prompting some to ask if enough is being done to convince the public that the process is safe.
By Margaret Ryan 9 July 2013 0 2725
Properties near wells and served by public water systems increased their values by 10% (Statoil)

Worries about whether hydraulic fracturing poses risks to drinking water are costing some shale property owners big, new research has shown, adding urgency to producer efforts to prove to the public that drilling is being done safely, experts have said.

A Resources for the Future (RFF) study of real estate sales in Washington County – a country in southwestern Pennsylvania, home to hundreds of gas wells – found properties served by piped public water increased in value after wells were drilled nearby. However, properties dependent on...