Developing the UK's fracking industry is "an urgent national priority", according to a committee of peers.
The Lords Economic Affairs Committee pointed to the shale gas industry as a way of creating jobs, cutting emissions and making the UK less dependent on foreign gas and oil.
Ministers also needed to do more to drive forward exploratory drilling and appraisal of shale resources to see how much could be developed economically, a report by the Lords said.
They also backed moves by the Government to change trespass laws so that shale companies could drill under people's property without their permission to ensure development could go ahead "without undue delay or cost".
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The company posted a 63.5% plunge in bottom line pre-tax profits to £176.4 million on a comparable 52-week basis.