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Cuadrilla Offered New Onshore Oil & Gas Licences in Yorkshire

Source: www.gulfoilandgas.com 8/18/2015, Location: Europe

Cuadrilla is pleased to announce it has been offered two new exploration licences, as part of the UK Government’s 14th Round for onshore oil and gas licences. The licences, each one approximately 100km² in area, and all located in Yorkshire, are Block SE95 in the South Cleveland Basin and Block SE40f in the Gainsborough Trough. Cuadrilla was jointly offered the licence for the Cleveland Basin with partner, GDF SUEZ E&P UK Ltd (70% Cuadrilla, 30% GDF SUEZ) and is the sole licensee on Block SE40f.

Communicating with the local community regularly and transparently about any proposed work and future operations is very important to the Cuadrilla team and a community helpline has already been set up for communities in Yorkshire who may have early questions about onshore oil and gas exploration.

For the next year activity in these new exploration licence areas will largely centre on desktop studies and in some cases carrying out seismic surveys. This will give the company detailed data on the geology deep underneath the licence areas, helping to assess where exploration sites could subsequently be located.

Francis Egan, CEO of Cuadrilla, said:
“We are very pleased to be offered these new exploration licences. Whilst we continue to progress our shale gas exploration work in Lancashire, we welcome the potential for exploration in Yorkshire along with the associated benefits of new jobs and economic growth we believe it will bring. Our first priority will be to talk with local communities. We recognise that some members of the public will have concerns and there continues to be a good deal of misinformation circulated regarding onshore shale exploration. We have a responsibility to ensure people understand the facts and are not misled by harmful scaremongering. Onshore exploration and fracking can and will be done safely, securely and in an environmentally responsible way.”

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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