Questions over local benefit from Cuadrilla’s fracking fund
As ministers consider how to compensate people living near shale gas sites, a DrillOrDrop analysis of the UK’s only fracking community benefit fund raises questions about its value.
As ministers consider how to compensate people living near shale gas sites, a DrillOrDrop analysis of the UK’s only fracking community benefit fund raises questions about its value.
The Australian owner of the shale gas company, Cuadrilla, spent $1.107m in the UK in 2021 (about £655,000 at current rates), even though its licences were “on hold” because of the fracking moratorium.
More than three-quarters of people want a windfall tax on fossil fuel companies, according to a national survey published today.
Union Jack Oil announced this morning it had increased its interest in the Biscathorpe oil site in Lincolnshire.
UK Oil & Gas said today it would reperforate the Portland section of its first well at the Horse Hill oil site in Surrey.
No equipment to identify the source of formation water in the new well at Horse Hill was available in the UK or Europe until next month, the main investor in the Surrey site said today.
UK Oil & Gas, the company behind the Horse Hill oil site in Surrey, has issued a total of 348 million shares in the past week.
Cuadrilla has said it will make small goodwill payments to people living near its Lancashire shale gas site who said their homes were damaged by the UK’s largest fracking-induced tremor in August.
Initial assessments of damage caused by the UK’s largest fracking-induced earth tremor were made by staff from the Cuadrilla’s headquarters, not professional surveyors or insurance experts.
The shale gas company, Cuadrilla, has recorded an annual profit for the first time following a multi-million dollar payment from partner, Centrica.