Halliburton Company (HAL), Apache Corporation (APA), Cabot Oil & Gas Corporation (COG): Three Energy Companies Innovating With Natural Gas

Apache
As with converting trucks and other vehicles to run on natural gas, the main incentives for these companies to use natural gas in fracking are reduced emissions and fuel-cost savings. Earlier this year, Apache Corporation (NYSE:APA) became the first energy exploration and production firm to power a full hydraulic fracturing operation using natural gas-burning engines — a feat it accomplished at its Granite Wash operations in Oklahoma. By making the switch, Apache Corporation (NYSE:APA) expects to lower fuel costs by roughly 60%, while also lowering emissions.

Cabot Oil & Gas
And more recently, Cabot Oil & Gas Corporation (NYSE:COG) announced that it’s using natural gas sourced from the Marcellus to fracture wells in its operations, marking the first time “field” gas has been used in northeastern Pennsylvania for fracking. The innovative duel-fuel technology, which uses engines capable of running on either natural gas or diesel, could help the company reduce its use of diesel by as much as 70%. In addition, it is expected to lead to reduced air emissions, reduced truck traffic, and substantial cost savings, Cabot Oil & Gas Corporation (NYSE:COG) said in a statement.

The bottom line
Halliburton Company (NYSE:HAL), Apache Corporation (NYSE:APA), and Cabot Oil & Gas Corporation (NYSE:COG)’s efforts in using natural gas in various ways are a promising development for the entire energy industry, as it moves toward minimizing its environmental impact. Not only is natural gas an inexpensive way to power a fleet of vehicles, but it can also help energy exploration and production companies slash their fuel costs, while simultaneously lowering greenhouse gas emissions.

The article 3 Energy Companies Innovating With Natural Gas originally appeared on Fool.com and is written by Arjun Sreekumar.

Fool contributor Arjun Sreekumar has no position in any stocks mentioned. The Motley Fool recommends Halliburton and Waste Management and owns shares of Apache and Waste Management.

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