DALLAS, Nov. 4, 2015 /PRNewswire/ -- Breitling Energy Chairman and CEO, Chris Faulkner, will address the Energy Live 2015 conference in London tomorrow, discussing the on-going debate in the UK about whether shale extraction of oil and natural gas could safely be performed in Great Britain.
According to a study released last year by the University of Manchester, England could have such a vast gas supply locked up in shale that it could fuel the country's electricity needs for the next four centuries. However, environmental activists have virtually halted efforts to develop shale resources due to what Faulkner believes is misinformation and unfounded scare tactics.
"If England were to safely begin developing its abundant natural gas, it would be like unearthing another Marcellus and Utica shale in the US. It appears to be such a vast supply that it could put the UK on the map as one of the world's prominent energy producers and uncouple them from Russian imports," Faulkner said.
Natural gas isn't the only abundant resource the island may hold. A 2015 discovery well in the Weald formation near Gatwick airport indicated a substantial oil deposit in the area. Further study by Schlumberger confirmed estimates of upwards of 100 billion barrels of oil, making the field's potential larger than the total output of the Permian Basin.
"One of the reasons I come to England to advocate safe, responsible fracking is because of how much potential this country has. To ignore it based on unfounded environmental 'boogie-man' concerns is irresponsible in my opinion," Faulkner said.
Energy Live 2015 kicks off with a keynote speech from Andrea Leadsom, a Conservative Member of Parliament for South Northamptonshire and Minister of State for Energy and Climate Change.
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ABOUT BREITLING ENERGY CORPORATION
Breitling Energy Corporation is a growing U.S. energy company based in Dallas, Texas, engaged in the exploration and development of high-probability, lower risk onshore oil and gas properties. The Company's dual-focused growth strategy primarily relies on leveraging management's technical and operations expertise to grow through the drill-bit, while also growing its base of non-operating working interests and royalty interests. Breitling Energy's oil and gas operations are focused primarily in the Permian Basin of Texas and the Mississippi oil window of southern Kansas and northern Oklahoma, with non-operating investments in Texas, North Dakota, Oklahoma and Mississippi. Breitling Energy Corporation is traded over the counter under the ticker symbol: BECC. Additional information is available at www.breitlingenergy.com.
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SOURCE Breitling Energy Corporation