Cuadrilla in talks for stake sale

Talks: at Cuadrilla

Cuadrilla

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By Steve Marshall and news reports

 14 January 2013 13:24 GMT

Major energy players including British utility Centrica are reported to be engaged in talks to acquire a big stake in UK shale driller Cuadrilla Resources.

Cuadrilla’s dominant shareholder AJ Lucas confirmed on Monday that the company is in discussions with “a number of parties” regarding the exploitation of potential shale gas resources in the Bowland basin of Lancashire in northern England.

It was responding to reports in the Financial Times and other media that Cuadrilla was holding talks with a number of “well-known , well-established multinationals in the oil and gas space” for the sale of a stake in the company, with the FT citing Centrica as a potential suitor.

Financial and technical backing by a major player…

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