UK company IGas says shale gas deposits at its site in north-west England could be more than twice as large as it previously estimated, according to its latest operational update.

The company says that its latest analyses of its well at Ince Marshes could potentially at least double the pre-drilling estimate of 4.6 trillion cubic feet.

Taking the “very encouraging” results, together with indications of similar deposits in neighbouring Bowland Shale, could see the UK’s resources exceed those of elsewhere in Europe.

“The UK government’s announcement about a new gas generation strategy and the support given in the budget to the industry are all signs that UK sourced hydrocarbons are going to play an increasingly important role in the future energy mix of the country,” says Andrew Austin, CEO of IGas.

The company says it is now looking for suitable partners to undertake further drilling and development of shale gas.

“Following a number of enquiries from interested parties, we are now launching a process to engage a suitable farm-in partner to participate in drilling further wells to corroborate these results and to develop our shale resource,” the company said in a statement.

However, Cuadrilla Resources was forced to suspend fracking last spring at its site near Blackpool after the process was deemed to have caused local tremors.

For further information:
www.igasplc.com/uploads/120402rnsoperationsupdatefinal.pdf

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