Shale gas work in Lancashire has generated £9m

The Cuadrilla drilling rig at Preston New RoadThe Cuadrilla drilling rig at Preston New Road
The Cuadrilla drilling rig at Preston New Road
Shale gas exploration company Cuadrilla says it has spent nearly £9m with suppliers as it finishes off its second horizontally drilled well at its site at Preston new Road near Blackpool.

The company became the first to complete a horizontally drilled well in shale in the UK earlier this month.

It says it is on track to frack both wells by the third quarter if given final permission by the Government.

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Now in its latest ‘Putting Lancashire First’ commitments tracker to include figures up to March 31, it said spend in the county economy by Cuadrilla and its suppliers now stands at some £8.6m.

And it added that indirect spend – the amount of money Cuadrilla’s suppliers have sub contracted to other suppliers in Lancashire specifically linked to their own work for Cuadrilla – has now risen to more than £1m.

The company has also seen a growth in interest from the local supply chain.

It now has more than 700 companies now registered on the Supply Chain Portal.

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Cuadrilla’s chief executive Francis Egan, said: “Having completed drilling the first horizontal well into UK shale, and currently finishing the second, we are delighted that our important exploratory work at Preston New Road has benefited the economy by nearly £9m to date.”