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IGas chief “very pleased” with North Yorkshire fracking decision

The UK shale gas sector received a shot in the arm this week with the approval of Third Energy’s planning application for a fracking programme in North Yorkshire.

Steve Bowler, chief executive of IGas Energy Plc (LON:IGAS), says he is “very pleased that North Yorkshire County Council have recognised that it [fracking] is something that can be done safely and in an environmentally responsible manner”.

IGas expects final determination of its own planning application for the Springs Road project (part of PEDL 140), in the Bowland basin, during the third quarter of this year.

The company has also submitted a planning application for the Tinker Lane project to Nottinghamshire County Council this month.

IGas has also completed “a 3D seismic acquisition” at the end of 2015, and Bowler says the company is “very active” and “on track with all of our operations”.

Quick facts: IGas Energy Plc

Price: 35.9 GBX

AIM:IGAS
Market: AIM
Market Cap: £43.93 m
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IGas is a 'diverse business with lots of opportunities' says CEO Bowler

Onshore UK focused IGas’s (LON:IGAS) production currently is 850,000 barrels per year, but that is dwarfed by its shale acreage in the East Midlands. This compares favourably with major shale plays in the US, says Bowler, who believes the reserves are sufficient to provide all the UK’s gas...

on 17/10/19

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