DECC Authorizes Total's UK Shale Gas Entry
The British Department of Energy & Climate Change gave approval to open the doors of the UK’s shale gas to Total E&P UK.
As announced on 13 January, Total will acquire 40% interest in UK Onshore Petroleum Exploration and Development Licences PEDL139 and PEDL140.
GP Energy (a subsidiary of Dart Energy Europe) will become the second stakeholder with 17.5%, followed by Edgon Resources and IGas (14.5% interest each) and eCorp Oil & Gas (13.5%).
PEDL139 and PEDL140 are located in the Gainsborough Trough in Nottinghamshire and South Yorkshire. The licences cover an area of 240Km2.
‘IGas will assume operatorship of the licences with immediate effect,’ reads a note released on Tuesday.
Work has now commenced on seismic acquisition and planning.
According to several notes, Dart Energy will receive US$1 million in cash consideration, while Edgon $600,000. IGas and eCorp Oil & Gas did not disclose these details in similar notes released on Tuesday.