Cuadrilla shareholders eye exit in blow to UK fracking by Emily Gosden, Sept 6, 2019, The Times
The future of fracking in Britain was thrown further into doubt last night after it emerged that Cuadrilla Resources shareholders were looking to exit the business.
Cuadrilla’s backers hired the Royal Bank of Canada several months ago to explore strategic options, Bloomberg reported.
Any moves towards a sale are likely to be complicated by the fact that fracking has been suspended pending the outcome of an Oil & Gas Authority investigation after Cuadrilla caused a 2.9 magnitude tremor in Lancashire last month.
Cuadrilla Resources is 48 per cent owned by AJ Lucas, an Australian company controlled by Kerogen, the private equity group. A further 45 per cent is owned by Riverstone Holdings, another private equity group, with the remainder held by Cuadrilla employees. Kerogen and… [subscription required]
Fracking firm Cuadrilla in new breaches of drill site permit by Tim Gavell, Sept 6, 2019, Blackpool Gazette
The Environment Agency has warned fracking firm Cuadrilla over three more breaches of its permit at the Preston New Road drill site.
The EA wrote to the shale gas firm over failing to monitor groundwater properly for key substances and then failing to tell the EA about the missing data. [Compare to AER and Alberta Environment enabling Encana breaking the law, frac’ing a community’s drinking water aquifers, violating the Baseline Testing Standard, violating AER’s noise directive, violating the Water Act, AEPEA, etc etc etc etc, and helping the company cover-up its crimes]
Anti-fracking protesters said it was no surprise following earlier breaches which included allowing unburned methane gas into the atmosphere, spillages into a nearby brook , to failing to store waste water properly.
A Frack Free Lancashire spokesman said: “This is the third time that Cuadrilla have received a written warning for a range of environmental breaches.
“It is time for Cuadrilla to back their bags and leave town
“They have shown themselves to have a totally cavalier attitude to the regulatory regime and it is clear the safety of the community is a low priority for them.”