The shale gas company, Cuadrilla Resources, has described itself as “largely non-operational” following the moratorium on fracking in England.
The operator of the Horse Hill oil site in Surrey made “substantial losses”, its latest accounts have revealed.
Losses in Union Jack Oil more than doubled in the first half of 2020, compared with the same period last year.
IGas declared a pre-tax loss of £59.1m for 2019 in its group annual results published today. This was up from £25.1m in 2018.
The exploration and production company, Union Jack Oil, is planning to withdraw from three licences in 2020 because of falls in their value.
With the government announcement last week to postpone its decision on plans at IGas’s Ellesmere Port site in Cheshire, a member of Frack Free Upton reflects on, and celebrates, the local campaign against the onshore gas industry.
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.
The gas production company, Third Energy, formerly owned by Barclays, has been released from a loan of more than £80m, according to its accounts.
The moratorium on fracking, along with planning delays and weak commodity prices are a challenge for the future, Egdon Resources has concluded
Cuadrilla saw profits drop by a third in 2018, according to annual accounts published this week.