Igas hails North Yorkshire fracking green light

IGAS Energy, which has fracking sites in Greater Manchester, has hailed the granting of planning permission by North Yorkshire County Councillors for shale gas extraction at Kirby Misperton by Third Energy.

In a trading update ahead of its annual meeting today, the AIM-listed company said its own gas monetisation projects were progressing.

Igas chief executive Stephen Bowler said: “We were delighted that Third Energy were granted planning permission to hydraulically fracture their existing KM8 well and welcome the decision taken by North Yorkshire County Councillors in their careful consideration of the facts and the recognition that this established onshore industry can carry out its operations safely and environmentally responsibly.
 
“There is a pressing need to deliver lower carbon energy that is home grown, provides important energy security for the future alongside economic benefits to the local communities as well as the country as a whole.

“In this period of prolonged oil price volatility we remain focused on balance sheet strength, operating efficiencies and preserving cash, whilst continuing to deliver value adding activity.”