Cuadrilla Mobilises UK Shale Rig
UK shale gas exploration company Cuadrilla has remobilised equipment on its Lancashire fracking site in readiness for further hydraulic fracturing later this year, it said March 11.
But it said the government needed to improve its policy on shale, which Ineos a month ago described as "unworkable." The complete halt of activity following minute tremors, only detectable by underground equipment, damages the economics, the shale industry says.
It said it delivered a range of "specialist equipment on to the shale gas exploration site in Preston New Road, near Blackpool, designed to get two existing wells ready for further hydraulic fracturing later this year."
The announcement came a few hours after one from Igas, which has had better than expected results from its well in north Nottiinghamshire; and one also a few hours after one from the UK Onshore Oil & Gas lobby group, which spoke of the possiblity of much greater domestic shale production than forecast and hence more jobs, a better supply chain, lower gas imports and overall much better economic returns for the UK.
Cuadrilla CEO Francis Egan said: “The latest forecasting is clear about this opportunity. Based on our early well results as published in January, estimates now show the UK could reduce its dependency on imported gas by 50% with just 60 sites... This is all achievable by simply investing in natural shale gas, establishing an energy policy that supports its development as part of a diverse energy mix and ensuring this significant resource is brought out of the ground to deliver these enormous benefits for everyone."