Plans by IGas to drill and frack for shale gas on Ince Marshes in Cheshire appear to have been shelved.
Losses in IGas more than doubled in 2019 to more than £50m as the company turned its back on shale exploration in north west England, annual accounts have revealed.
Production at Angus Energy’s Saltfleetby gasfield and oil flow at Balcombe would “mark a turnaround in the group’s fortunes” and bring “material cash flow for the first time”, the company said today.
The gas production company, Third Energy, formerly owned by Barclays, has been released from a loan of more than £80m, according to its accounts.
Third Energy, the company behind plans to frack in North Yorkshire, has announced it now has no immediate shale gas plans.
Dunsfold drilling: Decision delayed again and opponents consider legal challenge as operator declares £6.9m loss
The decision on plans for two oil and gas wells near the Surrey village of Dunsfold have been postponed for the fourth time.
The company behind plans to frack in North Yorkshire has told community representatives it is now concentrating on its conventional gas business.