Shale drilling firm Cuadrilla has today claimed a more than £10 million investment in the local Lancashire economy.
The firm was yesterday granted clearance by the UK Government to begin drilling at its Preston New Road site in Lancashire.
Cuadrilla said that throughout its Putting Lancashire First commitments scheme it has identified a direct spend with suppliers in the county increase to £8.93m in Q2 of 2018.
The company added that indirect spend to the local economy, the amount of money Cuadrilla’s suppliers have sub contracted to other suppliers based in Lancashire, stands at £1.1 million.
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 £10 million invested to date.
“As we start preparing to hydraulically fracture our first two horizontal exploration wells we aim to demonstrate that Lancashire shale gas can be safely and sensibly developed in the county to supply local homes and businesses. As we grow, we look forward to working with even more local suppliers across the county and to seeing the local community benefiting from our efforts.”
This month Cuadrilla announced the completion of the UK’s second shale horizontal well at its Lancashire site.
The company said that drilling at the exploration site at Preston New Road was to a depth of 2,100m below the surface and extends laterally for some 750 metres through the shale gas reservoir.