First UK shale gas well results positive, fracking in January
First UK shale gas well results positive, fracking in January
Outcomes of the UK's very first shale gas well look positive and driver Cuadrilla Resources could proceed to fracturing tests in January, intending to promote gas production from the shale, component owner AJ Lucas said.
Cuadrilla started piercing the well, in the Bowland shale near Blackpool in Lancashire, during the summer season. The firm's founder Chris Cornelius claimed as shale could eventually fulfill 5-10% of UK gas demands.
AJ Lucas, an Australian company that is bought Cuadrilla as well as additionally has a direct risk in the UK well, said Tuesday that exploration of the UK Preese Hall 1 well would certainly finish by end of Wednesday.
Preliminary indicators are that the well "confirms as well as possibly goes beyond the initial expectations of administration regarding the prospectivity of the Bowland shale," AJ Lucas said.
The drill gear will be transferred to the Grange Hillside 1 well some 15 kilometres away for a new well in January 2011. Fracking and examining tools will after that be relocated to Preese Hall for a complete examination expected in January.
Cuadrilla is additionally taking into consideration a 3rd well in the Bowland shale, to be called Anna's Roadway 1.
The firm anticipates to be able to decide on commercial development of the gas by around completion of the first quarter 2011.
Shale gas manufacturing has actually boomed over the last few years in the US, and various other areas are now looking for to match the development. Argentina today revealed a significant shale gas locate.
However biocides is often questionable, particularly the chemicals utilized with water in fracking fluids. Challengers are afraid the chemicals might affect the supply of water.
Chris Cornelius informed Network 4 Information previously this year: "There are particular cases in the United States where specific drivers have been documented as having some problems and they do exist, yet I believe we've done every little thing below working with HSE [health and wellness exec] as well as the epa [the atmosphere agency] right here in the UK to make sure that does not occur on Cuadrilla's location."
Exclusive equity fund Riverstone Holdings, which takes care of around $17 billion throughout six mutual fund, and has BP's ex-CEO John Browne as one of its handling directors, invested in Cuadrilla earlier this year.
AJ Lucas has additionally invested in Cuadrilla Resources as well as has a direct risk of its very own in certain UK operations, together with Cuadrilla.
Cuadrilla holds acreage in the UK, Netherlands, Poland, Hungary as well as Czech Republic and also prepares drilling in the Netherlands very early next year, in addition to fracking operate in Hungary at the end of the initial quarter.
