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Trican Well Service employees monitor the hydraulic fracturing process from an onsite control centre near Bowden, Alta., Tuesday, Feb. 14, 2012.
Trican Well Service employees monitor the hydraulic fracturing process from an onsite control centre near Bowden, Alta., Tuesday, Feb. 14, 2012.
(Jeff McIntosh/The Globe and Mail)

FINANCIAL TIMES

4,000 holes in Lancashire later, U.K. shale may meet energy needs

Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities.

The Beatles observed that there were 4,000 holes in Blackburn, Lancashire. We might soon discover what they meant. The Bowland Shale, which runs under northwest England, could be the next big shale gas play – though it will require a lot of holes to prove it. Cuadrilla Resources is exploring in Lancashire: there was talk on Friday that Centrica was in talks to buy a slice of its acreage. This week IGas Energy said that a 300-square mile block of the region may have enough gas to meet the U.K.’s needs for 60 years. Cue excited talk of a U.K. gas renaissance.