The largest shale gas leaseholder in New Brunswick no longer has a presence in the province after closing its Moncton office this week.
SWN Resources claims the future of the industry is uncertain here given the province’s moratorium on shale gas development.
But Jim Emberger, a spokesperson for the New Brunswick Anti-Shale Gas Alliance, believes the Texas-based company is struggling everywhere it operates.
“We know they laid off half of their labour force last year. Their stock price is only $7 this past week and their bonds are rated as junk bonds,” he notes.
From what he has learned, Emberger says the company is not operating a single drilling rig anywhere in the United States right now.
