Why Cuadrilla’s fracking ‘megapads’ are a pipe dream

Egan said that Cuadrilla intend to float the company on the stock market if Lancashire exploration was successful, to raise funding. He said the company (currently financed by Cayman Islands-based Riverstone Holdings, and A J Lucas, an Australian company which is finding it hard to stay afloat without its Chinese backing, plus a minor stake by Centrica) would look to “go to equity markets or the debt markets to scale up”.

 

In other words, this company, which has been promoted in the media as an “energy giant” is admitting it can not afford to fund the fracking which it has been promising. Last year, Cuadrilla lodged accounts showing a $17 million loss.

READ FULL REPORT

 

Facebooktwittergoogle_plusredditpinterestlinkedinmail