Industry

Angus Energy deal for Saltfleetby gas

saltfleetby google earth

Saltfleetby gas site Image: Google Earth Imagery (c)2019 Infoterra Ltd & Bluesky, Imagery (c)2019 CNES/Airbus, Getmapping plc, Infoterra Ltd & Bluesky, Maxar Technologies, Map data (c)2019

Angus Energy has announced an agreement with a division of Royal Dutch Shell for gas production from Saltfleetby in Lincolnshire.

Shares climbed sharply on the news. At the time of writing, the company’s share price was up 44.41% at 1.23p.

Angus said this morning it was “pleased to have such a robust partner for gas sales”.

A statement to Angus investors said the deal was with Shell Energy Europe Limited, and was for the entire production from the Saltfleetby gas field.

Angus said the terms of the agreement were in line with the assumptions in the competent person’s report (CPR) for Saltfleetby.

This estimated 16 billion cubic feet of mean sales gas reserves and 10 billion cubic feet of mean contingent reserves.

The report identified as “key risks” what it described as poor-to-moderate quality 3D seismic data of the reservoir and the highly faulted geological structure which “could compartmentalise the reservoir, leading to isolation of gas volumes”.

Angus made an agreement with Wingas Storage (UK) Limited in June 2019 to become the operator of the Saltfleetby gas field. The transfer was approved by the Oil & Gas Authority in December 2019.

Last week, Lincolnshire County Council planners approved the extension of a pipeline from the Saltfleetby field.

5 replies »

  1. For crying out loud. WE NEED TO KEEP FOSSIL FUELS IN THE GROUND!!!!!Profits before climate are all these companies are bothered about.

    • Oh the naivety Alison, the world spins and the universe is static. Are you honestly saying the world could survive without fossil fuels, the Asia sweat shops the endless reap and sow!??

      Profits before Climate!, Tell me one major employer who doesn’t procure profits, which don’t resonate from climate damaging intensive operations.
      Everything humans do, reproduce, create, consume, pollute and profit endears some form of climate emission!
      Reduce the population ethically and you have a solution. (Maybe there’s space on Mars?)
      [Edited by moderator]

  2. Well, Alison, my gas boiler heats my water every day, so I would like it to come out of the ground and into my supply. I prefer that it comes out of UK ground so UK tax can be gathered before it reaches me. UK fossil fuel, as gas or oil, replacing imported gas and oil is a benefit towards climate change by displacing current imports.

    For crying out loud, if you are serious about climate change mitigation stop attempting to block moves in the right direction. All that does, is turn off the majority as they see an approach which is dogma rather than reality.

  3. I suppose Alison has found a way to cook & heat her home without using fossil fuels & don,t say wind energy because the amount of fossil fuel that is consumed in producing a wind farm more than outweighs the benefit we get from it & while your cooking dinner heres something else for you to consider….( Study claims meat creates half of all greenhouse gases …
    Search domain https://www.independent.co.uk/environment/climate-change/study-claims-meat-creates-half-of-all-greenhouse-gases-1812909.html
    Scientists are concerned about livestock’s exhalation of methane, a potent greenhouse gas. Cows and other ruminants emit 37 per cent of the world’s methane. A study by Nasa scientists published in …)

    [Link in article corrected]

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