Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Cuadrilla Parent Confirms Talks over UK Shale Development

change text size
USGS: Estimate of Conventional Gas Resources Grows Internationally

AJ Lucas, the Australian owner of UK-based shale gas specialist Cuadrilla Resources, confirmed Monday that it is discussions with a number of parties regarding the future development of the Bowland Basin in Lancashire, England. However, the company added that the discussions were at a "preliminary stage" and that it was not in a position to advise whether any agreement will result from them.

The statement followed weekend press speculation that UK-based gas multinational Centrica was in talks to buy a major stake in Cuadrilla. In a phone call with Rigzone Monday morning (UK time), a spokesman for the firm said: "We don't comment on market rumor and speculation."

Cuadrilla itself issued a statement that it had nothing to add to the confirmation of discussions made by its parent company.

Cuadrilla Resources is the UK's main company that is active in shale gas drilling in the country. In September 2011, it was reported that a significant amount of gas (since estimated at 300,000 trillion cubic feet of gas) was bound up in shale rock at the Bowland Basin.

But the development of shale gas in the region proved controversial after fracking-related earthquakes occurred in Lancashire in the spring of 2011, which led to a ban on fracking.

This ban was lifted on Dec. 13 2012 following a statement from UK Chancellor of the Exchequer on Dec. 5 announcing plans to better exploit the UK's gas resources.
 

 



A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

More from this Author
Jon Mainwaring
European Editor | Rigzone.com
 -  North Sea Industry Calls for Tax Refor... (Nov 25)
 -  Gaza Marine Development Could Help Del... (Nov 23)
 -  Israel Must Improve 'Erratic and Uncle... (Nov 20)
 -  Proven Technologies Will be Key to Isr... (Nov 18)
 -  North Sea Independents Report Solid Pr... (Nov 13)
Most Popular Articles
From the Career Center
Jobs that may interest you
Rig Mechanic - AKER and WIRTH experience needed
Expertise: Rig Mechanic
Location: International
 
Marine Electronics Engineer - Field Support - Offshore Exp
Expertise: Engineering Manager
Location: Aberdeen
 
Sales Executive
Expertise: Business Development, Sales and Marketing
Location: Aberdeen
 
search for more jobs