Fracking gas firm Third Energy sells onshore businesspublished at 13:22 British Summer Time 25 April 2019
The company planning to frack in Ryedale in North Yorkshire is selling its onshore operations to an American energy company.
Third Energy has announced it's signed a deal with Alpha Energy.
The company came close to fracking a site at Kirby Misperton in 2017 but, withdrew while it awaited approval of its financial resilience from the government.
The sale of the company to York Energy Holdings, which is an affiliated company of US-based Alpha Energy, includes the planned fracking site at Kirby Misperton, near Pickering and Third Energy's power station at East Knapton.
Tom Reed, the chief executive of Alpha Energy, says he's looking forward to developing the group's energy and generation business.
The deal is expected to be completed in the next few weeks.