IGas Energy has increased its shale gas initially in place estimates and unveiled the results of an exploration well at Barton Moss in northwest England.
The company said its net GIIP estimates now range between 34 trillion cubic feet (tcf) and 263 tcf, with 147 tcf considered the most likely.
IGas’ gross GIIP estimates now range between 50 tcf and 352 tcf, with 192 tcf considered the most likely.
The Barton Moss well, drilled in early 2014, encountered three shale intervals and 15 gas bearing coal seams.
About 400ft of core was recovered, including from the shale section, and the company said the results represent a key datapoint in understanding the structural and depositional setting of the basin.
IGas plans to submit applications for multi-well sites for drilling and hydraulic fracturing of gas from shale in 2015.
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By GlobalDataIGas CEO Andrew Austin said: "The results of the well are encouraging in respect of the shale potential of the area as they have helped further refine the existing basin models and verify the earlier preliminary prognosis. The results were employed in our 14th licence round applications."
The latest results combined with the previous Ince Marshes-1 well, which encountered a thick section of shale with good TOC’s, and the forthcoming Ellesmere Port exploration well will help to better define the entire potential of the IGas acreage in the North West.
IGas has licences to explore for oil and gas in several UK locations including the North West, East Midlands, the Weald Basin in southern England and the northern coastal area of the Inner Moray Firth in Scotland.
The company supplies more than 3,000 barrels of oil and gas equivalent per day to refineries in the UK.
