A technology and research consultancy is leading a pioneering project to develop an environmentally friendly alternative to fracking from its new base at Stoneleigh Park.
Nota Bene Research has moved into the park’s Rural Innovation Centre where it will work on a drilling technology to extract UK shale gas reserves.
The company was formed by chartered engineer Nick Barnett and during the past four years has worked specifically on securing research funding for projects in the oil and gas industry.
Nota Bene estimates its ‘no-frack’ system will increase well output at least threefold, in a shorter timescale and without the environmental obstacles of hydraulic fracturing.
The company works with Octopus Completions, which was set-up specifically to develop, test and commercialise oil and gas well enhancement technologies.
Mr Barnett said: “Energy security is a major issue for the country and the economy requires cheap energy.
The price of oil is currently very low which is putting huge pressure on operators to cut costs both in exploration and production from wells.
This drilling technology could provide an environmentally acceptable way of accessing the UK shale gas reserves.”