IGas Revises Upwards Shale GIIP Estimates

 UK-based IGas revised its shale GIIP estimates after announcing results of its exploration well at Barton Moss in PEDL 193 in the North West of England. 

‘In summary, the results from the Barton Moss well represent an important datapoint in understanding  the structural and depositional setting of the basin.  The results will help refine the subsequent appraisal programme as well as better delineate the resource potential,’ reads the note released by the company on Tuesday.

According to CEO Andrew Austin, the results demonstrate the commerciality of gas extraction, adding that the geology of the area is comparable with US’ Marcellus and Fayetville, in terms of comparing quartz/clay/carbonate content. 

‘The results of the well are encouraging in respect of the shale potential of the area as they have helped further refine the existing basin models and verify the earlier preliminary prognosis.  The results were employed in our 14th licence round applications,’ Austin commented.

Excluding the Weald Basin licences areas and CBM reserves, IGas has revised its shale gas position as described in the following table.