Island Gas Resources

Description

IGas Energy was set up in 2003 to produce and market domestically sourced gas from unconventional sources such as coal bed methane (CBM) and shales. We are currently focussed on developing the CBM potential of our substantial acreage.

We operate a pilot CBM project at Doe Green near Warrington and have completed the drilling of a second pilot production well at Keele University where we have commenced dewatering. We also have planning permission for a further seven sites in and around the North West of England and Staffordshire.

We have licences to extract hydrocarbons across the north of Wales and the north of England, covering an area of more than 1,756kmĀ². Additionally we have ownership of eleven Petroleum Exploration and Development Licences (PEDLs) in the UK, two methane drainage licences and three offshore blocks under one Seaward Petroleum Production Licence. Our areas of operation are Cheshire, Yorkshire, Staffordshire and the North Wales coast and we are the operator and sole owner of each of our licences.

Our assets are located conveniently close to our customer base, which includes the national gas network. So we are in a strong position to secure high gas prices from our production and to contribute to the UK?s security of supply.

We also have a strong team that has expertise in drilling and completions, geology, reservoir engineering, land and facilities, and their skills are complemented by the capabilities of our selected contractor partners. We believe through this we have the right people, relationships and skills in place to effectively operate our first commercial sites and to deliver secure gas onshore. Independent analysis by world-leading reservoir engineers DeGolyer and McNaughton has confirmed that we have an estimated net Contingent Recoverable Resource of 1,736Bcf of gas (2C). This is equivalent to around 290 million barrels of oil, or enough recoverable gas to supply electricity to 15 per cent of UK homes for 15 years. The full range of this resource is between 1c of 1,192Bcf and 3c of 2,530Bcf. These estimates were calculated using an extensive database of more than 320 boreholes across the licence areas. Estimates were statistically aggregated on an individual coal seam basis.

Email enquiries@igasplc.com


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