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Press Releases

Monday 13th October 2014.

ReachCSG farms out an interest in the hydrocarbon Licence PEDL162 in Central Belt of Scotland to INEOS Upstream Limited.

Reach CSG has agreed with INEOS Upstream Limited (INEOS) to transfer to it an 80% interest in UK Petroleum Exploration and Development Licence 162

Notes for editors:

  • Reach CSG was awarded PEDL 162 in 2008 and since then has conducted extensive geological studies which have shown PEDL162 may contain large amounts of producible hydrocarbons

  • Reach CSG is a Scottish oil & gas company based in Aberdeen.

  • The rocks of the West Lothian Oil-shale Formation formed from the sediments that accumulated 335 million years ago on the bottom of a large lake in a rift valley, much like that in present-day East Africa. These rocks are exposed in the Livingston area where oil from the shale was produced and refined during the 19th and 20th centuries. 75 million barrels of oil were produced during this time. About 150 years ago Bathgate was the first town in the world to use Natural Gas when it was supplied with shale gas. In the area of PEDL162 the West Lothian Oil-shale Formation is deep beneath the Central Coalfield.

  • The British Geological Survey based in Edinburgh have studied the shales of the Central Belt. The British Geological Survey has published a range of total in-place oil resources for the Central belt is 3.2 - 6.0 - 11.2 billion barrels (421-793-1497 million tonnes) and a range of total in-place gas estimate is 49.4 – 80.3 – 134.6 TCF (1.40 – 2.27 – 3.81 TCM). TCF – trillion cubic feet; TCM – trillion cubic metres.