The would-be fracking company, IGas, has announced an agreement with CeraPhi Energy to develop geothermal energy projects using existing oil and gas wells.
UK onshore oil production on all measures rose in May 2021 compared with previous months but it failed to return to the level of the start of the year.
Key figures 60,083 tonnes72,911 m314,794 barrels of oil per day1.63% of total UK production
Annual UK onshore oil production has fallen to its lowest level since 2011.
IGas has given up its headquarters in London’s Mayfair, the exploration and production company formally announced today.
Monthly oil, water and gas production were all up at Horse Hill in Surrey, the UK’s newest onshore production site, according to the latest official data.
UK onshore oil production fell in 2019 to its lowest point for eight years, official data has revealed.
IGas has confirmed its first shale gas well at Springs Road in north Nottinghamshire has reached its total depth of 3,500 metres and encountered all three targets.
IGas declared a profit of £15.5m in 2017, after two previous years of loss.