UK's Ineos Shale has acquired interests in five English onshore shale licenses from France's Total.
The firm has bought Total’s entire 40 per cent stake in the license PEDL 139 and 140 in North Nottinghamshire, as well as a 30 per cent interest in PEDL 273 and 305 in Yorkshire, and a 30 per cent stake in PEDL 316 in Lincolnshire. Total has also transferred to INEOS its option to farm-in to PEDL 209.
The deal's value wasn’t disclosed.
Ron Coyle, CEO at INEOS Shale, said: “Our acquisition of these assets represents an important development for INEOS Shale and demonstrates our ongoing commitment to this important industry. Shale gas represents an exciting opportunity for the UK, and has the real potential to bring much needed jobs and investment to local communities.”
All the licences in which INEOS acquired interest are operated by British onshore explorer IGas.