The all-share deal will see London-listed IGas Energy pay a 40% premium to acquire its Australian-based rival in a transaction valued at almost $200 million.
The two companies will hold more than a million acres onshore the UK between them, including 13 licences with fully funded work programmes, 13 with France’s GDF Suez and two with compatriot Total.
IGas chief executive Andrew Austin said the acquisition “further strengthens our position financially, operationally and also significantly increases our licensed acreage”.
Dart
