"The company, formerly known as Viking UK Gas Limited, has on two occasions filed so late that it has been warned that it could be struck off the register and dissolved.
Its 2015 accounts, which were filed five months late, showed a £3.9 million loss for the year. It had net liabilities of £50 million, of which £44.5 million was owed to its parent company Third Energy Holdings Limited. The parent company, which is registered in the Cayman Islands, is 98 per cent owned by a subsidiary of Barclays bank.
Barclays has said that it will look to sell its stake in Third Energy, although it is thought likely to wait until the fracking results are known.
Opponents of fracking have long raised concerns over whether taxpayers would have to pay for clearing up any pollution if a company went bust.
Russell Scott, a campaigner with Frack Free Ryedale, said: “With such huge health and environmental concerns associated with fracking, and the enormous costs involved, we are deeply concerned that the company appears unable or unwilling to publicise its finances.” Mr Scott urged Greg Clark, the business secretary, to withhold a decision on fracking at Kirby Misperton until “the company’s financial stability is proven and guaranteed”.
Barclays invested in Third Energy through Barclays Natural Resource Investments, its private equity division, which was spun off via a management buyout to Global Natural Resource Investments in 2015. GNRI, which did not respond to requests for comment,
handles interaction with Third Energy but Barclays retained the shareholding." The Times