Barclays-backed business applies to frack near Flamingo Land in North Yorkshire
Third Energy, which is 97pc owned by a subsidiary of Barclays, says it will seek planning permission to frack at Kirby Misperton
Fracking could take place as soon as next year if approval is granted Photo: Getty Images
A company backed by Barclays bank is seeking planning permission to frack for shale gas near the Flamingo Land theme park in North Yorkshire, under plans that have already drawn criticism from local MP Anne McIntosh.
Fracking could take place as soon as next year if approval is granted to Third Energy, which is 97pc owned by Barclays Natural Resource Investments, the bank's private equity division.
Third Energy
took shale rock samples while drilling at the site just outside Kirby Misperton, in Ryedale, last summer.
It has now announced that it will seek permission to hydraulically fracture - or frack - the same well to test how easily the shale gas can be made to flow out of the ground.
Rasik Valand, Third Energy chief executive, said: "Our analysis indicates that there could be a significant new gas reservoir in our North Yorkshire licence area."
The site is less than a mile from Kirby Misperton, a village of about 400 inhabitants that is probably best known as the site of the Flamingo Land zoo and theme park.
The company said it would now conduct an Environmental Risk Assessment and wider public consultation before actually submitting its planning application.
No fracking has taken place in the UK since a ban on the practice was lifted in 2012, but Cuadrilla has applied for permission to frack at two sites in Lancashire.
The British Geological Survey estimates that 1,300 trillion cubic feet of gas lies within the Bowland shale, which stretches from Cheshire to Yorkshire. If 10pc could be extracted it could meet UK needs for 40 years.
Third Energy said its analysis showed the rocks deep below Kirby Misperton were "mainly inter-bedded sandstone and shale" and while gas-bearing they were "not pure shale as found in other parts of the country".
Anne McIntosh, Conservative MP for the Thirsk and Malton constituency which covers the site, raised concerns that tourism to the area could be affected.
"People really will not look kindly on companies coming into Ryedale with their shaft sinkers and traffic movements to hydraulically frack at depth; potentially impacting upon tourism, leaving a legacy of spoilt landscape and ruining the countryside forever," she said.
"Will visitors really want to sit behind hundred of lorries pre construction and taking the contaminated water away after construction?"
Third Energy's proposed fracking site (white area, centre-right) near Kirby Misperton, North Yorkshire. (Pic: Third Energy)
Miss McIntosh, who serves as chairman of the Environment, Food and Rural Affairs select committee, said residents would want assurances about how the "huge amounts of water required will come from and how the contaminated water will be disposed of".
A spokesman for Third Energy said it would use a maximum of 4,000 cubic metres of water, the equivalent of two Olympic sized swimming pools, which would be piped in from its existing facility at Knapton. Most of the water would "seep into the ground or be used up in the fracking process" while about 10pc of the water that is returned to the surface - including a "very small" proportion of chemicals - would be trucked away to a treatment centre for processing.
He said there could be about 100 lorries going to and from the site for a one week period while fracking was being set up, five weeks with very few lorry movements, and then about 65 lorries over the course of another week at the end of the process.
The company will pay £100,000 in community benefits if it fracks the well, and 1pc of revenues if it proceeds to producing shale gas.
It said that if the gas field - stretching across most of its 154 square mile exploration block - proved commercially viable, it was "not unreasonable" to assume this could result in production of 1 trillion cubic feet of gas, generating £70 million payments to local communities over 20 years.