Egdon Resources plc today added its support for Government’s move to commission the British Geological Survey for a scientific review of shale gas.
GAINSBOROUGH TROUGH
The company’s comments follow those of IGas yesterday after the Government made its announcement.
Egdon’s shale gas licences cover 151,742 net acres (614 km2) which it estimates to hold mean volumes of undiscovered gas in place of 37.6 trillion cubic feet.
The company’s main focus is the Gainsborough Trough in the East Midlands.
Egdon added that results from the 2019 Springs Road-1 well, drilled by IGas, highlighted a “potentially world class resource in the Gainsborough shale”.
STRATEGIC
Managing director Mark Abbott said that the review was a logical and welcome move by the Government.
“Gas heats over 80% of our homes and generates around 40% of our electricity and will continue to be an important part of our energy mix out to 2050 and beyond.
“UK 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.”