The idea of oil and gas wells is to bring water and oil to the surface. The difference is that oil wells are borings in the ground that are intended to bring hydrocarbons to the surface, while gas wells are designed to produce natural gases such as propane and butane. Occasionally, a well can reach the end of its life—creating a need for oil well remediation, which in the industry is known as plugged and abandoned. Well plugging is significant to the reclamation process because it helps preserve the equality of groundwater. Well plugging prevents surface contamination from reaching aquifers and prevent serious accidents from occurring. After an oil well remediation, the soil is treated so that agriculture practices can begin.
Unfortunately, oil wells create waste. Wastes included can be spilled oil, solvent, hydraulic fluid and garbage. They can cause a great disruption to wild life habitats and pollute the environment with chemicals and toxins. Construction activity can also change landscapes due to the heavy earthmoving equipment. In order to add oil wells to a landscape, drilling is required. Drilling a well means that workers must drill multiple holes deep in to the earth’s surface, causing excessive amounts of oil to spill over and contaminate our natural resources.
After a well pad’s construction is completed, the benefits can be cost effective. Oil wells contribute a great amount of money to the U.S. economy due to exportation of oil to other countries—averaging about seven million barrels per day. It is also beneficial to be an investor in the gas and oil industry. Being that the United States is still recovering from a recession, gas prices have been low over the last decade. Investing now would mean a low buy and eventually a raise in prices which means a raise in the market.