Copper 1960 to 2006
Shale gas UK
.Significant progress may be made in UK shale resources over
the next few years. On May 2, 2013, Reuters reported that
Britain’s shale gas companies plan to drill at least 20 to 40
exploration wells by 2015, to test the production potential
of newly discovered deposits. Companies reportedly active
in this respect include Cuadrilla Resources, IGas, Celtic,
Dart Energy, Egdon Resources, Third Energy, Reach, Europa,
Aurora, and Rathlin among others. It is noteworthy that,
unlike in countries such as Poland, Ukraine, Turkey, and
Germany, which have all seen preliminary investments by or
licences awarded to oil majors, most of the current players
in the UK market have until recently been smaller, local
companies. Whether these companies have the resources
or capacity to complete drilling programs themselves, or
whether they will need to partner with larger IOCs or other
investors, remains to be seen. For example, Centrica, which
owns British Gas, has taken a 25% stake in the Bowland
shale gas exploration licence in Lancashire after negotiations
with UK shale gas explorer Cuadrilla Resources and
Australian engineering group AJ Lucas, which previously
held 75% and 25% stakes respectively.
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