One-Page Deal Sheet
IGas to Buy UK Shale Company Dart Energy
Igas Energy Plc Dart Energy Limited
Announced Date
May 10,2014
Effective Date
October 16,2014
Close Date
October 16,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
198
Net Acres
Location
Calculated Metrics( EV/Category)
Country
United Kingdom
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
IGas Energy Plc agreed to buy Dart Energy Ltd., creating an explorer with rights to drill across more than 1 million acres including shale basins.
IGas will offer shares to investors valuing Brisbane-based Dart Energy at A$211.5 million ($198 million), the companies said in a statement today. After the deal, Dart shareholders will own about 31% of the enlarged company.
The deal “increases our licensed acreage as we seek to unlock the untapped energy resource that exists in Britain,” IGas CEO Andrew Austin said.
IGas produces about 3,000 barrels a day of oil and gas from onshore U.K. fields…
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Jan-14-2014 | Total Enters U.K. Shale Gas Fray; Becomes Country's Largest Operator | -  |
- |