Egdon Resources plc has signed a fully termed agreement over the farm-in and equalisation of interests between the PL81 and PEDL347 Weaverthorpe onshore gas licences.
PROGRAMME
The deal with York Energy (UK) Holdings Ltd and Cuadrilla North Cleveland Ltd will see operator Egdon hold 52.5%, Cuadrilla 25% and York 22.5% in both licences.
“I am pleased we have been able to finalise this agreement in a timely fashion and now look forward to working with York, Cuadrilla and our wider stakeholders on delivering the planned work programme,” said Egdon managing director Mark Abbott.