Slaughter and May advised INEOS - proposed acquisition of interests in certain shale gas licences in England and Scotland from IGas Energy

Slaughter and May advised INEOS in connection with its proposed acquisition from IGas Energy (IGas) of an interest in 10 on-shore licences across England and Scotland in consideration for the payment of a cash sum of £30 million and the funding of a two phase work programme of up to £138 million. INEOS will become operator of several of the licences.

The IGas acquisition follows on from two earlier deals on which Slaughter and May advised INEOS, being its acquisition from Reach Coal Seam Gas of an interest in an on-shore petroleum, exploration and development licence (PEDL 162), including assumption of operatorship and its acquisition from BG International of an interest in an on-shore petroleum, exploration and development licence (PEDL 133).