Seismic reflections: Frack on track
The embryonic UK shale industry has received a significant vote of confidence in the last couple of weeks. The government has created a new office to handle unconventional resource regulation, begun a consultation around the fiscal regime and most importantly lifted the suspension on fracking. However, significant challenges lie ahead. If UK shale is proved to be commercial, we consider the play to be transformational to the UK energy mix. We would expect those companies with first-mover advantage, namely Cuadrilla, IGAS, Dart and Egdon, to be beneficiaries of this.
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