The former executive of one of the INEOS chemical companies has been appointed head of INEOS Shale, the UK’s largest holder of shale gas exploration licences.
Ron Coyle, formerly Commercial Director of INEOS Phenol, replaces Gary Haywood, who resigned his INEOS directorships in March this year.
Mr Coyle, a former US army captain, joined INEOS Phenol in 1998 and became Commercial Director, based in Switzerland, in 2010. INEOS said he was responsible for a global business worth around €4bn
INEOS Shale described his appointment as a “significant step change”.
INEOS Shale has submitted planning applications for shale gas drilling at Marsh Lane in north east Derbyshire and Harthill in Rotherham borough. It has also identified a site at Woodsetts, also in Rotherham, where it wants to drill another well.
Although the company has no planning permissions for exploratory drilling or production, a statement on Mr Coyle’s appointment said:
“INEOS Shale is now ready to move into an operational phase.
“INEOS Shale will shortly commence drilling test wells.
“Once the data from these surveys has been analysed, INEOS Shale will be well positioned to move into a production phase.”
Mr Coyle said:
“This is a very exciting opportunity for me and I am keen to get started. I’m looking forward to helping INEOS shale take that final step into operations which will make the company one of the largest natural gas producers in the UK.”
Geir Tuft, a director of INEOS Shale and chief executive of INEOS Oil & Gas, said:
“I’ve known Ron for a number of years and he is a great manager of people, as well as a smart and effective businessman who builds businesses and brings value to everything he does. Ron is the perfect choice to lead INEOS Shale, as we move into the operational phase of the business.”