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Centrica Plc Announces Acquisition Of 25% Interest In Bowland Exploration Licence


Thursday, 13 Jun 2013 04:00am EDT 

Centrica plc announced that it has acquired a 25% interest in the Bowland exploration licence (PEDL165) in Lancashire from Cuadrilla Resources Ltd (Cuadrilla) and AJ Lucas for GBP40 million in cash. Centrica will also pay exploration and appraisal costs of up to GBP60 million. The Bowland licence is operated by Cuadrilla, and three exploration wells have been drilled to date. The data obtained from drilling these three wells has confirmed the shale formation thickness and the presence of natural gas. 

Company Quote

287.7
1.5 +0.52%
27 Nov 2014