IGas Energy PLC finds Shale Resource off Northern England
IGas Energy PLC announced today that it has identified a “significant” shale resource as potentially extending more than 1,195 sq km of its acreage in northwest England with an expected average thickness of 250 m.
“These shales are understood to be hydrocarbon-bearing as they have been locally demonstrated to be the source rock for hydrocarbons in the Liverpool Bay area,” IGas said.
The firm said that total organic carbon has been measured to range from below 0.7% to more than 5% with an average in the Holywell shales of around 2.1%. IGas has identified independent consultants to review the hydrocarbon potential of the shales and their potential to produce gas. It said the consultants will be reporting on the results “once this work is complete.”
IGas Chief Executive Officer Andrew Austin stated “this continuing work on understanding the full potential of our acreage to deliver gas once again gives us greater confidence in the resources we hold”. “The potential of delivering Shale gas is particularly exciting, as this sector has seen significant growth in North America and increased interest across continental Europe”, commented Austin.
In addition to the United Kingdom, exploration for shale gas is being carried out by international oil and gas companies including Sweden, France, Germany, Austria, Poland, and Hungary.
Source: IGas Energy PLC