7th Nov 2018 11:51
LONDON (Alliance News) - Highlands Natural Resources PLC said Wednesday that it expects hydraulic fracking operations on its East Denver shale oil and gas project to resume within a week.
Flowback from the new wells is expected in late December in 2018, or early January 2019.
In addition, Highlands noted that Proposition 112 was not passed in Colorado, US, meaning that the well set-back limits will not be increased from its current 500 feet for occupied buildings and 1,000 feet for school structures.
A setback is the minimum distance which a building or other structure must be setback from a place which is deemed to need protection.
In addition, Highlands has filed permits for a 104-well development programme at the West Denver project and continue its discussions with potential partners for the project.
Shares in Highlands Natural Resources were up 7.8% at 141.2 pence on Wednesday.
Related Shares:
Highlands Natural ResourcesZOE.L