Cuadrilla Parent Confirms Talks over UK Shale Development

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
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Jon Mainwaring
Senior Editor, EMEA | Rigzone
 -  Total Sells West of Shetland Assets af... (Jul 29)
 -  Galp Produces Solid Results for 2Q 201... (Jul 27)
 -  What Now for UK Shale Gas? (Jul 27)
 -  Cuadrilla Appeals Council's Shale Gas ... (Jul 23)
 -  Wressle-1 Well Test Exceeds Expectatio... (Jul 21)


Most Popular Articles

From the Career Center
Jobs that may interest you
Global Account Manager - Software
Expertise: Business Development|Sales & Marketing|Technical Sales
Location: Texas, TX
 
Offshore Drill Crew-Temporary
Expertise: Roustabout
Location: GOM
 
Strategic Account Manager - Houston
Expertise: Business Development|Executive|Sales & Marketing
Location: Houston , TX
 
search for more jobs

Brent Crude Oil : $53.38/BBL 0.15%
Light Crude Oil : $48.79/BBL 1.68%
Natural Gas : $2.89/MMBtu 2.48%
Updated in last 24 hours