Industry

John Dewar resigns as director of fracking firm Third Energy

John Dewar

One of the key figures in  the company expected to frack the UK’s first gas well for nearly seven years has resigned as a director.

Companies House, the UK’s business register, published filings today that John Dewar had resigned as a director of three companies in the Third Energy group.

They include Third Energy UK Gas Ltd, which is waiting for consent to frack the KM8 well at Kirby Misperton in North Yorkshire.

Mr Dewar had been a director of the companies since 2011.

Third Energy’s chief executive, Rasik Valand, said this evening:

“As planned for some time, John Dewar retires as Third Energy’s Operations Director at the end of October 2017.

“He has agreed to stay with the company as a consultant with responsibility for the KM-8 hydraulic fracturing programme in Kirby Misperton.

“John and I have worked together since the company started and I am grateful that we are able to continue to call on his expertise.”

“Crowning glory”

John Dewar has described fracking at Kirby Misperton as his “crowning glory”.

Speaking at a seminar in 2016, three weeks before Third Energy’s planning application to frack was approved, he said:

“This is probably my last opportunity. My crowning glory. I was one of the founders of this oil and gas company and so it’s now giving me the opportunity to put a lot back.”

At the time, he predicted the well would be fracked in the third or fourth quarter of 2016. Third Energy is still waiting for final consent from the Business Secretary, Greg Clark.

The Companies House register continues to list Mr Dewar as a director of Third Energy Services Ltd and Third Energy Offshore Ltd, as well as a Scottish company, Adrem Technology Ltd.

14 replies »

  1. Should be a condition of TE’s permission to frack that John Dewar & his family resides permanently in a property located within 1 mile of the wellhead, Sherwulfe!

    • They will none of them be missed, we’ve got him on the list.

      Well how about that? Is there something about r….rodents and sinking ships there?

      I wonder if this is a precursor to bankruptcy or takeover?

      As you say Sherwulfe, runaway pension and bonus protectionism in plain site. I wonder if the staff will receive the same “get out of jail free” card? I bet not.

      A chance for or dear fiends Angus to slip and slide in there perhaps? Oh joy!

  2. See the insomnia sufferers are still suffering! Hope it is by beeswax candle light. Wouldn’t like the carbon footprint to be extended.

    Retirement for JD just in time to catch Elton’s goodbye tour.

  3. Company say old man retires, DOD headline says old man resigns.

    Which was it, retires or resigns?

    Third energy spokesman talks in the present tense about something that was going to happen in the past
    ( John Dewar retires at the end of October 2017). Perhaps he said, or meant to say that he retired in October 2017.

    Meanwhile said chap has not retired from some directorships and it seems had come out of retirement to be a consultant at some time.

    Maybe they need to cut running costs, or waiting costs as we could call them, or they needed some fresh blood as ops director.

      • Sherwulf
        They may have a cold, as income does not cover expenditure, with no relief in sight.
        Carillion was interesting. A company that though that government contracts were a good way to make money, only to find that, each year, the payer had less money to hand over than the year before. Thus margins were squeezed, while tenders were cut to the bone to get cash flow through the door.

        That they lasted as long as they did is a tribute to cheap money, dodgy auditing and a few other shady practices thrown into the mix.

        I see that Ocado is the most shorted company (16.54%), with Debenhams at (14.1%). Cold comfort if you work for them I guess.

        • Yes Hewes, it’s a sad time we live in where businesses’ futures are in the hands of greedy personas who like to ‘play’ with the shares to make bigger numbers on a computer and then transfer that to a server in a ‘haven’.

          The lives of real people, without whom these businesses would not actually exist in the beginning, are destroyed at the press of a key on a device.

          Of course, when the ‘entity’ takes over the people are just part of the shop display mannequins and are as disposable as the changing web presence.

          I cannot really pinpoint when the tipping point happened for sure, but happen it has. We are all walking on brittle non-uv balanced pvc eggshells.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s