Egdon welcomes scientific review of shale gas
London-listed Egdon Resources on April 6 welcomed the UK government's commissioning of a scientific review of shale gas, as Whitehall looks at options to bolster the country's energy security.
Egdon has licences covering some 614 km2 of shale gas acreage in the UK with a potential 37.6 trillion ft3 of undiscovered in-place gas. Its main focus is the Gainsborough Trough basin in the east Midlands, operated by fellow UK junior Igas. The companies reported "highly encouraging core analysis results" from a well they drilled there in 2019.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
The scientific review, which will be undertaken by the British Geological Survey, is "a logical and welcome move by the government," Egdon managing director Mark Abbott said. Shale gas "could be a strategically important national resource with the potential to reduce the UK's growing reliance on gas imports, whilst reducing gas prices, improving our balance of payments, increasing tax revenues and creating skilled jobs whilst importantly also reducing the carbon footprint of the gas we all use," he said.