21st Aug 2014 08:21
LONDON (Alliance News) - IGas Energy PLC Thursday said it has secured a rig to drill the Ellesmere Port exploration well, which it expects to spud in late 2014.
Ellesmere Port is to be the third shale gas well drilled in a programme run by IGas designed to provide a suite of results from its licensed areas in the North West of England. The second well in the programme, at Barton Moss, was completed in the first quarter of 2014 and the results are currently being evaluated, IGas said.
"We are delighted to have secured a suitable rig for our exploration well at Ellesmere Port," said IGas Chief Executive Andrew Austin. "This well, similar to the one we successfully drilled at Barton Moss earlier this year, is to further appraise the geology in the North West and another step in unlocking Britain's onshore energy resources."
In May, IGas announced plans to acquire Dart Energy Ltd for GBP117.1 million, a deal that will create a company with the largest area in the UK licensed for shale gas fracking.
IGas shares were trading unchanged to 106.50 pence in early trade Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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