Dart Energy Sees New Enthusiasm for UK Shale Gas After Cuadrilla’s Deal with Centrica

Dart Energy said that the recent deal between Centrica and Cuadrilla could trigger new enthusiasm for UK shale gas, with positive repercussion for operators trying to find partners for new developments.

As reported by Bloomberg, Dart Energy CEO John McGoldrick sees opportunities in the nascent UK shale industry.

“The Centrica deal has injected some urgency into the situation, because a lot of these companies don’t react that quickly… If you want to play, all of a sudden the playground appears to be getting smaller,” said McGoldrick to Bloomberg, adding that “we are pushing ahead, and maybe this deal will help accelerate things.”

The UK-based Centrica, which owns British Gas, has acquired a 25% interest in the Bowland shale exploration licence in Lancashire from Cuadrilla Resources and AJ Lucas for £40 million in cash. According to Cuadrilla, the deal announced on June 13 is a milestone for shale gas developments in the UK.

The Australian-based Dart Energy is an exploration and production company in the unconventional gas industry, with activities in several countries outside Australia. It has carbon bed methane assets in the UK, Indonesia, India, Poland, China, Belgium and Germany. It has shale assets in the UK, Poland, Germany and China.

Dart has a package of eleven licences in the Western Bowland shale, holding 100% working interest in all of these licences. The estimated net gas-in-place is in the range of 30–60 Tcf.

The Australian-based company has also a strong position in the Eastern Bowland shale, where it is the largest single licence holder with 15 licences.