eCORP UK and partners joined by Total UK in British shale exploration effort
HOUSTON, Jan. 13, 2014 /CNW/ - eCORP UK, a subsidiary of privately held eCORP
International, LLC, is pleased to announce that it has entered into a Farm-out
Agreement (the "Agreement") with Total E&P UK Limited ("Total"), along with
partners Island Gas Limited, Egdon Resources U.K. Limited and GP Energy
Limited (a subsidiary of Dart Energy Limited).
The Agreement has been made in respect of two large UK Onshore Petroleum
Exploration and Development Licences, PEDL 139 and PEDL 140 (the "Licences"),
located in the Gainsborough Trough in Lincolnshire. The Licences cover an
area of 240 square kilometres.
This Agreement supplants eCORP's previous farm-in agreement with IGas, Egdon
and GP Energy. Transaction details and statements have been provided earlier
today by the other parties involved.
Commenting on the Agreement, John Francis Thrash, CEO of eCORP International,
"The entry of this highly respected global shale operator into the UK shale
gas exploration effort is a watershed event, not only for the UK, but also, we
believe, continental Europe. From a North American shale E&P perspective,
this very compelling prospect has many of the physical attributes of the best
basins in the US. From a shale M&A perspective, the transaction, which
represents about one percent of our UK/Europe holdings, is a quantum leap in
Commenting on the acquisition, Patrice de Vivies, Total's Senior Vice
President for Northern Europe, said:
"This opportunity is an important milestone for Total E&P UK and opens a new
chapter for the subsidiary in a promising onshore play. The Group is already
involved in shale gas projects in the US, Argentina, China, Australia and in
Europe in Poland and in Denmark, and will leverage its expertise in this new
venture in the UK."
About eCORP International, LLC
General Information – Founded in 1978, eCORP and its predecessor companies
have extensive oil and gas experience spanning underground natural gas
storage, natural gas transportation, enhanced oil recovery in conventional
reservoirs using propane and butane, exploration for and production of
conventional and unconventional (shale) reservoirs, electric power generation
and marketing of electricity and natural gas.
Environmental Care and Safety – The company is distinctly characterized by
its impeccable safety record, commitment to environmentally sensitive, green
development, surface aesthetics and extensive, proactive community engagement
driven by an overarching commitment to achieve local community acceptance of
its developments, maximize economic and cultural benefit for the local
community and build enduring community relationships. In so doing, eCORP has
historically moved ahead of and beyond industry and regulatory standards in
innovating adaptive technologies to address not only challenging geologic but
significantly, environmentally sensitive conditions.
Typical Projects – As a consequence, eCORP was an early mover in the
Marcellus play in Pennsylvania, recognizing the play's potential while
developing the company's highly acclaimed Stagecoach Storage Natural Gas
Storage Facility in upstate New York, and has acquired multi-million
prospective conventional and unconventional acreage positions internationally.
Field Services – The company's broad background in hydrocarbon based, green
development led to the formation of subsidiary/affiliate services companies,
including ecorpStim and eCOREx:
ecorpStim (www.ecorpstim.com) provides reservoir stimulation using pure
home-use liquid propane and/or non-flammable liquid fluoro-propane (the
propellant in pediatric and adult lung inhalers) in combination with
low-density proppants. These ultra simple binary combinations provide a
profoundly environmental impact mitigating reservoir stimulation technology
– completely eliminating the use of water, chemical additives, and thus any
potential aquifer contamination from any leak or spill at the surface – as
the ecorpStim processes use (A) zero water and zero chemicals, and (B) both
forms of propane used are gases at ambient pressure and temperature, and thus
eCOREx provides specially adapted, zero discharge slim hole drilling for
evaluating hydrocarbon reservoirs within a short time frame, obtaining
continuous core samples from the surface to total depth of the well with real
time analysis of the core samples.
eCORP expects to deploy these field services and environmentally sound
technologies in Europe, and globally, to develop its own portfolio of E&P
assets, as well as to provide the services to third parties.
Please see: www.ecorpintl.com
John F. Thrash Chairman & CEO eCORP International, LLC (713) 520-0993
Mark Stauss Director of Commercial Operations eCORP International, LLC (713)
SOURCE eCORP International, LLC
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-0- Jan/13/2014 09:15 GMT
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