Ineos Shale acquires UK onshore interests
Ineos Shale has expanded its onshore exploration and development license area in the UK with an acquisition from Total E&P Ltd.
The deal includes 100% of Total’s participating interests in petroleum exploration and development licenses (PEDL) 139 and 140 and 60% of its half interests in PEDLs 273, 305, and 316.
Ineos Shale also acquired Total’s option to farm in to PEDL 209.
IGas Energy PLC, London, operates all licenses involved in the transaction.
New interests in PEDLs 273, 305, and 316 are IGas, 35%; INEOS, 30%; Total, 20%; and Egdon, 15%.
Ineos Shale said the acquisition boosts its license holding to more than 1.325 million acres.