Ineos says it wants to drill at a site at Woodsetts, near Rotherham, after assessing 'existing geological data'.
The proposed site is west of the village and south of Dinnington Road.
An Ineos spokesman said: "The well site is situated in Petroleum Exploration and Development Licence (PEDL) 304 on land to the south of Dinnington Road, located to the west of the settlement of Woodsetts, Rotherham.
"This location has been chosen because it is within an area of interest to us based on existing seismic data.
"We plan to submit a planning application to Rotherham Metropolitan Borough Council in the near future."
They added: "Site construction and rig assembly will take up to three months.
"Drilling, coring and testing will take up to five months. Once drilling, coring and testing operations have ceased, establishing the well as Listening Well and suspension will take up to one month with the suspended well in place until restoration .
"There will be periods when traffic activity is high such as site construction, rig and equipment deliveries and subsequent removal with fewer deliveries each day during drilling operations. All deliveries will be carefully planned and closely managed to minimise disruption to local residents.
"We have entered into pre-application discussions with Rotherham Metropolitan Borough Council to discuss potential environmental impacts of the Proposed Development which will be subject to consultation with a number of external bodies. During this process we will undertake community consultation to take account of feedback from local residents before submitting a full planning application."
The company submitted planning applications for exploratory drilling at Common Road, Harthill, in Rotherham and Bramleymoor Lane in the village of Marsh Lane, Derbyshire, in March.