IGas finds vast shale gas reserves in newly acquired license
IGas, a leading developer of unconventional gas resources in the UK, said on Thursday that up to 130 billion cubic metres (Gm³) of shale gas is expected to lie within its Ince Marshes site in Britain.
"Independent analysis suggested [gas initially in place] of up to 4.6 trillion cubic feet in this area," the company said.
Ince Marshes was acquired by IGas in its recent takeover of Star Energy (see ESGM 19 September 2011).
Drilling has just finished at the Ince Marshes acreage, with chief executive Andrew Austin saying the amount of shale gas exceeds initial company estimates.
While the company has found a large amount of gas within its license area, shale gas explorers "are unlikely to produce more than 20% of their total reserves," one industry expert said.
The politically controversial fracking method of shale gas extraction has proven problematic for exploration companies in recent months, having been suspended by the UK government as it makes a decision on the safety of the process.
IGas has also finished drilling at its Doe Green coal-bed methane project. Indicative flow rates are expected before the end of March.
Coal-bed methane was previously the primary focus of IGas before its acquisition of Star Energy yielded a vast shale gas portfolio. JT
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