Egan of Cuadrilla Welcomes UK Budget

The chief executive of UK's shale gas pioneer, Cuadrilla Resources, has welcomed the British Budget, which promised generous breaks for unconventional energy explorers.

Francis Egan said: "The country needs to move forward with vital exploration activities, so we can begin establishing the value of our significant onshore gas resources."

In a statement on the company's website, Egan also said Cuadrilla was prepared to continue working with local communities in areas identified for shale extraction, with hydraulic fracking. 

George Osborne, the British Treasurer, announced on Wednesday that the government would encourage shale extraction, including generous field allowances for explorers. Last year Osborne also announced plans for the establishment of an Office of Unconventional Oil and Gas.

See also: Cuadrilla Delays Lancashire Fracking