Energy prices will not impact UK shale
Interview opportunity: ‘Frack Master’ Chris Faulkner, CEO of Breitling Energy Corporation in Birmingham next week
Chris Faulkner, CEO of Breitling Energy Corporation based in Dallas, Texas, and known by the media as the ‘Frack Master’, will be available for interview in Birmingham on Wednesday and Thursday next week, April 15 and 16, when he attends the Shale World UK conference and exhibition.
The BBC reportedly says there could be 100 billion barrels of oil in the Jurassic Kimmeridge formation according to UK Oil and Gas Investments (UKOG), another reason why all eyes this week are on the oil and gas drilling in England.
To put this potential find in perspective, the entire North Sea production over the last four decades is around 45 billion barrels, and the world’s largest oil reserve, Saudi Arabia’s Ghawar, produced an estimated 65 billion barrels of oil since 1951.
Faulkner is not only attending the Shale World UK conference and exhibition, but he’ll also be in London for interviews following the conference.
Even with the current fall in oil and gas prices, Chris thinks shale exploration will still be viable in the UK. “Shale oil gas will take some time to bring online,” Chris will say, “but this is a long-term investment, and prices will always fluctuate up and down. What’s key is the UK can gain independence from foreign gas by developing this massive resource under its own soil.”
“The North Sea is suffering because of the current drop in oil prices. It is a mature field, and as such is very expensive to extract, thus making it more vulnerable to these price changes. Shale is relatively cheap in comparison and could produce equivalent volumes over a similar period going forward. It is an opportunity the UK should not miss.”
Chris Faulkner feels that the two biggest obstacles to shale in the UK are the complex planning regulations and public opposition. Opponents base their argument on unfounded safety fears, which been proven untrue by US production and confirmed by the highly respected 2014 University of Manchester study claiming fracking can be done safely domestically. Drilling restrictions in the UK are more stringent than the US, pointing to even stronger safety precautions here.
Energy security and shale development have not become issues in the current General Election campaign, mostly because of milder temperatures this winter. Last fall, with Russia jawboning to reduce gas flowing through the Ukraine, a cold winter could have led to shortages, and energy independence would certainly have propelled up the political agenda. “The UK is at the end of a very long pipeline and only has two weeks of storage capacity if anything goes wrong, Faulkner says”
Chris Faulkner will be speaking at the Shale World UK conference and exhibition being held at the International Conference Centre (ICC) in Birmingham on Wednesday and Thursday next week (April 15 and 16). His topic will be: “Can unconventional exploration be economic at current oil and gas prices?”
For further information, please contact:
Michael Hardware, Chelgate PR in London on 020 7939 7989 or 07775 925 274 or firstname.lastname@example.org