Cuadrilla’s Australian owner spent more than £0.75m in six months in the UK in 2023, more than double the amount in the previous year. But the company has no plans for future “substantive expenditure” on UK shale gas.
Reabold Resources, a key investor in the West Newton oil and gas field in East Yorkshire, is to receive £4.4m from Shell in the coming days.
Star Energy and Union Jack Oil have reported falling profits in interim accounts published this week.
The former fracking company, Cuadrilla, earned nothing for its Australian owner in the past 12 months but spent Aus$2.4m.
UK Oil & Gas plc reported an operating loss of £1.32m for the six months to the end of March 2023, slightly larger than the year before.
Egdon Resources increased oil production by 27% in the second half of 2022, thanks to the Wressle field in North Lincolnshire.
One of the UK’s leading would-be fracking companies appears to be turning away from shale gas.
The Wressle production site in Lincolnshire has helped Europa Oil & Gas quadruple its annual revenues.
Tax relief has pushed the shale gas company, Cuadrilla, into profit, company accounts have revealed.
UK Oil & Gas has revealed that it has given up its licence to explore for hydrocarbons on the Isle of Wight.
DRILL OR DROP? 