INEOS adds to shale gas licence portfolio

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.
Table of Licences acquired

LicenceRegionEquity acquired Equity interests post dealOperator
EXL 273Cheshire25%INEOS 85%   IGas 15%INEOS
PEDL 293 *Cheshire35%INEOS 70%   IGas 30%INEOS
PEDL 295 *Cheshire35%INEOS 70%   IGas 30%INEOS
PEDL 147Cheshire25%INEOS 75%   IGas 25%IGas
PEDL 188Cheshire25%INEOS 25%   IGas 75%IGas
PEDL 189Cheshire25%INEOS 75%   IGas 25%IGas
EXL 288East Midlands25%INEOS 25%   IGas 75%IGas
PEDL 012East Midlands25%INEOS 45%   IGas 55%IGas
PEDL 200East Midlands25%INEOS 45%   IGas 55%IGas
PEDL 210East Midlands25%INEOS 25%   IGas 75%IGas
PEDL 146Yorkshire25%INEOS 25%   IGas 75%IGas
PEDL 287 *Yorkshire30%INEOS 30%   Cuadrilla 70%Cuadrilla
PEDL 342 *Yorkshire30%INEOS 30%   Cuadrilla 70%Cuadrilla
PEDL 288 *Yorkshire30%INEOS 30%   Cuadrilla 70%Cuadrilla
PEDL 346 *Yorkshire30%INEOS 30%   Cuadrilla 70%Cuadrilla