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On 29 October 2026, Reabold Resources plc acknowledged the UK Government's Budget announcement from the previous day introducing a British data centre covenant that allows compliant data centres to construct on-site power generation. Reabold stated that this policy relates to its proposed West Newton project, which aims to fuel an on-site data centre using gas produced directly from the field rather than the national grid. The company previously announced an ongoing feasibility study evaluating the project on 9 September 2026.
| Date | 29 Oct 2026 |
| Time | 07:00:04 |
| Category | Miscellaneous |
| ID | 8908A |
29 October 2026
Reabold Resources plc
("Reabold" or the “Company")
Reabold Welcomes UK Data Centre Covenant
Reabold Resources plc, the investing company focused on developing strategic gas projects for European energy security, welcomes the announcement made in the UK Government’s Budget yesterday of a new British data centre covenant, which recognises the importance of data sovereignty and supports on-site power generation to enable faster data centre deployment.
As part of the British data centre covenant, critical data centres that comply with measures to invest in local communities, create local jobs and protect local water supplies will receive the necessary grid connections and, where necessary, be allowed to build onsite generation while they wait.
The Company believes this development supports its proposed integrated gas to compute project at West Newton. The project would use gas produced directly from the West Newton field to fuel on-site power generation for a co-located data centre, rather than drawing gas from the UK gas grid. Gas supplied directly from West Newton could be provided at a substantially lower cost than gas purchased from the grid, enhancing the economics of the data centre project.
As announced on 9 September 2026, a feasibility study is underway to evaluate the co-location of power generation and data centre assets at West Newton.
Stephen Williams, Co-CEO of Reabold, commented: “We welcome this update from the Government, which is a significant endorsement of the rationale behind our proposed integrated gas to compute project at West Newton, and underlines the importance of access to reliable, competitively priced power as demand for digital infrastructure accelerates.
“We believe that our direct supply model at West Newton is unique in the UK and could support the development of domestic computing capacity without adding to demand on an already constrained gas supply system.
“We look forward to sharing the results of our feasibility study in the near future as we progress this opportunity to unlock further value from West Newton.”
For further information, please contact:
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Reabold Resources Plc Stephen Williams Sachin Oza |
Via our Investor Hub |
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Cavendish – Nominated & Financial Adviser and Broker Neil McDonald Pearl Kellie |
+44 (0) 20 7220 0500 |
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Camarco Billy Clegg Rebecca Waterworth Sam Morris |
+44 (0) 20 3757 4980 |
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Notes to Editors
Reabold Resources PLC is a UK-based upstream oil and gas investment company focused on generating returns through investment in low-risk energy projects with high potential upside. Investment activity is undertaken through strategic equity stakes in proven undeveloped gas discoveries with significant resources and near-term production potential, primarily across the UK and continental Europe. To support its investment strategy, Reabold balances proceeds from asset sales between shareholder returns and re-investment in new projects, with a focus on contributing to European energy security while achieving significant valuation uplift through clear monetisation pathways.