Toreador Breaks its Silence
Commenting on the recent French legislation banning the use of hydraulic fracturing for oil and gas extraction, Craig McKenzie, President and CEO of Toreador Resource Corporation said that the company's initial evaluation activity at its Paris Basin licenses would not involve the controversial process.
"It is important to note that our plan to evaluate our exploration licenses does not call for hydraulic fracturing. We will not conduct hydraulic fracturing operations within any of our permit areas. We will make full disclosures and representations to the French regulatory authorities as may be required,” commented McKenzie in a statement Wednesday.
Toreador reaffirmed it commitment to define and develop its Paris Basin assets to reach its potential for all stakeholders, “in compliance with French legislation and through cooperation with French authorities.”
"Notwithstanding the new law, we believe the oil resource potential of the Paris Basin can create jobs, provide local economic development, generate substantial revenues for the State and benefit all stakeholders," said McKenzie.
Source: Toreador Resources
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