The firm made the announcement on its website on Tuesday, 14 June.
Alliance Party MLA Stewart Dickson welcomed the news, however he also called for tougher laws and the creation of an independent Environment Protection Agency.
Mr Dickson said: "Since the project began I have consistently questioned the decisions that led to the drilling getting approval in the first place, including questioning the former Department of Environment over its granting permission for the drilling by default.
-- Advertisement --
"Self regulation does not work. Only the creation of an Independent Environment Protection Agency will allow the structures and laws to work effectively as intended."
Sinn Féin MLA Oliver McMullan said: "There was considerable concern in the local area about the drilling and its potential impact on the environment.
"The announcement will be widely welcomed by the local community and all those who opposed the drilling."
(CD)
