UK shale gas stocks IGas Energy PLC and Egdon Resources PLC saw their prices rise last week as the government rethinks its position on fracking, which could see domestic gas resources unlocked to ease dependence on Russian imports.
Cuadrilla, a privately held company, has led the UK shale gas sector which had largely stalled in recent years as projects failed to secure planning and regulatory approval.
The projects, located mostly in the Northwest of England, advanced sufficiently for the company and the British Geological Society to envisage decades’ worth of supply but did not advance enough for the gas to be tested commercially.
Egdon Resources plc (LON:EDR) is an independent onshore focused oil and gas exploration and production business. An established oil and gas exploration and production business with 41 licences in proven oil and gas producing basins in the UK.