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Australia's Dart finalises UK shale farm-out with GDF Suez

2013-11-28 03:37:00| Climate Ark Climate Change & Global Warming Newsfeed

Reuters: Australia's Dart Energy Ltd on Thursday announced it has finalised an agreement to farm-out 13 UK onshore licences in the Bowland shale across northwest and central England to GDF-Suez. Under the deal, GDF-Suez will pay Dart $12 million in cash upfront and $27 million in exploration and appraisal costs in exchange for a 25 percent share of the onshore licences. Dart inked the deal on the heels of a boardroom coup earlier this week that replaced chairman Nicholas Davies with Robert Neale, the...

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