Fracking firm's £10m county investment
Shale gas exploration firm Cuadrilla has issued its latest Putting Lancashire First'commitments tracker to include figures up to 30 June 2018.
Its figures show that to date more than £10m has been invested into the Lancashire economy by Cuadrilla’s Preston New Road fracking operations.
During the second quarter of 2018, Cuadrilla’s direct spend with suppliers in the county increased to £8.93m.
Indirect spend locally, the amount of money Cuadrilla’s suppliers have sub contracted to other suppliers in Lancashire, stands at £1.1m, Cuadrilla said.
Francis Egan, CEO of Cuadrilla, said: “This is a milestone year for Cuadrilla, with the completion of our two horizontal exploration wells at Preston New Road. I am delighted to see that our exploratory work is already significantly delivering for the Lancashire economy with over £10m invested to date.
As we start preparing to hydraulically fracture our first two horizontal exploration wells we aim to show that Lancashire shale gas can be safely and sensibly developed in the county to supply local homes and businesses.”
The firm was given permission by Government minister Claire Perry to go ahead and hydraulically fracture its first horizontal well drilled at the Preston New Road sire near Little Plumpton.
It will be the first horizontal gas well fracked in the UK and the first well fracked since Cuadrilla's frack at the abandoned Preese Hall Site in 2011.