IGas:Purchase Provides Synergies for UK CBM Player

The purchase of Britain’s second-biggest onshore oil and gas group by coal-bed methane venturer IGas Energy Plc., is discussed in the Financial Times.

In the deal announced last month, IGas will pay £110m ($170m) for the production assets of Star Energy, a subsidiary of Malaysia’s Petronas, in the Weald Basin near England’s south coast and in the east Midlands.

Andrew Austin, chief executive of IGas, said the combination of the companies would give the new entity arguably the biggest onshore asset base among UK operators – as well as synergies in dealing with planning authorities, suppliers and tax allowances.

Read the full article from the Financial Times HERE