Alkane brings in partner for NW project

ALKANE Energy has announced a joint venture with Aberdeen Drilling Management which will see them develop coal bed methane extraction sites in the North West and in Nottingham.

Alkane holds licenses for two exploration areas – PEDL 191 in the North West and PEDL 90 in Nottinghamshire, which cover a combined 133 sq km which hold an estimated 385 billion cubic feet of gas.

Alkane’s agreement with ADM will see the latter fund the work in return for a stake of up to 50% in the ongoing venture.

Alkane said that using ADM, which is more experienced in coal bed methane extraction, would allow it to benefit from these projects while concentrating on its core business of extracting coal mine methane.