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IGas acquisition will create largest UK shale gas explorer

4:51 AM MDT | May 12, 2014 | Francinia Protti-Alvarez

IGas (London), a shale gas explorer, has acquired Dart Energy (Singapore) for about A$211.5 million ($198 million), IGas says. The combination of IGas and Dart will create a market-leading, onshore UK oil and gas company with the largest area under license in the United Kingdom, more than 1 million net acres, including major UK shale basins, IGas says. The enlarged group will be approximately 30.5% owned by the current Dart shareholders on a fully diluted basis. IGas operates the United Kingdom's only coal-bed methane (CBM) pilot site at Warrington, and the...

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