Great Britain Taking Baby Steps But Actually Fracking -- August 6, 2018

This is really an inconsequential story in the big scheme of things, but for the archives it's important, so I will post some quick data points. Go go the link to sort out the story:

• UK
• Cuadrilla; privately owned; British E&P; formed in 2017; HQ in Bamber Bridge, Lancashire
• targeting British shale in Lancashire;
• filed for 2nd permit to frack a well they have just drilled to depth
• first permit granted last month (July, 2018) -- considered a "momentous achievement"
• the second well drilled to depth: shallow at 6,890 feet TVD and then a very short lateral at 2,460 feet (total: less than 10,000 feet; compare with Bakken's standard 20,000 feet TD)
• from an industry body spokesman:

“At a time when the UK, and indeed the whole of Europe, is becoming ever more dependent on imported fuels it is very encouraging that we are taking steps to reverse the trend.” 

Sounds like a direct slam against France's ban on fracking; and Germany's dependence on Russian natural gas.
By the way, any economic benefits to Lancashire?

• over $13 million has been invested into the local Lancashire economy by this one company
• one can assume there are a lot of subcontractors adding to that total

If one looks at the official economic data reported for Lancashire, one could say its economy is fair at best compared to the rest of the EU. Something tells me the folks in Lancashire are happy with this influx of cash. Though, knowing the Brits, this will no doubt be about the speed of fracking in island nation: about two wells every six months, and it will be a headline story every time they get a permit to frack.

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