IGas Completes UK Shale Gas Farm-out to Total

UK onshore producer IGas reported Tuesday that it has completed its farm-out agreement with Total E&P UK Limited.

In January, Total confirmed that it had agreed to take a 40-percent interest in two shale gas exploration licenses: PEDL 139 and PEDL 140. These licenses are located in the Gainsborough Trough area of the East Midlands region of England and cover an area of approximately 90 square miles. They border PL178 and PEDL006 at Beckingham – an existing producing IGas-operated field.

The deal leaves IGas, which assumes operatorship of the licenses, with a 14.5-percent stake in the licenses, while Dart Energy Europe, Egdon Resources and eCorp Oil & Gas retain 17.5 percent, 14.5 percent and 13.5 percent respectively.

IGas said that all the necessary consents and approvals have now been received from the UK Department of Energy and Climate Change, including IGas’s operatorship of the licenses.

 



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