Unconventional gas company Dart Energy has sold UK onshore licenses to GDF Suez to take part in UK shale gas projects it has been reported.
GDF Suez will be buying 13 of Dart’s 31 licenses, all of which are located in the western and eastern parts of the Bowland Basin, in northwest England.
This area is particularly popular due to its prospective for shale gas, with a British Geological Survey study estimating gas resources potential of between 822 and 2,281 trillion cubic feet.
GDF is the second major oil and gas company to buy into unconventional gas in the Bowland Basin. They follow Centrica, who bought a 25% stake in Cuadrilla Resources’ shale gas license earlier in the year.