INEOS acquires UK onshore Petroleum Exploration and Development Licence interests of ENGIE E&P UK Limited
INEOS Shale, the onshore division of INEOS Upstream, has completed the acquisition of the entire UK onshore Petroleum Exploration and Development Licence interests of ENGIE E&P UK Limited, increasing the total acreage held by INEOS under licence to more than 1.2 million acres. The transaction involves minority interests in 15 licences, seven of which INEOS holds an existing interest in. The remaining eight complement the Company’s existing licence interests in Yorkshire, Cheshire and the East Midlands. Three of the licences are operated by INEOS, eight by IGas Energy and four by Cuadrilla.
Licences acquired (Table)
|
Licence |
Region |
Equity acquired |
Equity interests post deal |
Operator |
|
EXL 273 |
Cheshire |
25% |
INEOS 85% IGas 15% |
INEOS |
|
PEDL 293 * |
Cheshire |
35% |
INEOS 70% IGas 30% |
INEOS |
|
PEDL 295 * |
Cheshire |
35% |
INEOS 70% IGas 30% |
INEOS |
|
PEDL 147 |
Cheshire |
25% |
INEOS 75% IGas 25% |
IGas |
|
PEDL 188 |
Cheshire |
25% |
INEOS 25% IGas 75% |
IGas |
|
PEDL 189 |
Cheshire |
25% |
INEOS 75% IGas 25% |
IGas |
|
EXL 288 |
East Midlands |
25% |
INEOS 25% IGas 75% |
IGas |
|
PEDL 012 |
East Midlands |
25% |
INEOS 45% IGas 55% |
IGas |
|
PEDL 200 |
East Midlands |
25% |
INEOS 45% IGas 55% |
IGas |
|
PEDL 210 |
East Midlands |
25% |
INEOS 25% IGas 75% |
IGas |
|
PEDL 146 |
Yorkshire |
25% |
INEOS 25% IGas 75% |
IGas |
|
PEDL 287 * |
Yorkshire |
30% |
INEOS 30% Cuadrilla 70% |
Cuadrilla |
|
PEDL 342 * |
Yorkshire |
30% |
INEOS 30% Cuadrilla 70% |
Cuadrilla |
|
PEDL 288 * |
Yorkshire |
30% |
INEOS 30% Cuadrilla 70% |
Cuadrilla |
|
PEDL 346 * |
Yorkshire |
30% |
INEOS 30% Cuadrilla 70% |
Cuadrilla |
*14th Licensing Round
Press Contacts
Richard Longden (INEOS) 0041 21 627 7063 or 0041 7996 26123
Andrew McLachlan (Media Zoo) 020 7384 6980 or 07931 377162
Joseph Wade (Media Zoo) 020 7284 6980 or 07758 074576
Sareen Gosal (Media Zoo) 020 7384 6980 or 07522 490587