Dentons has advised Total on its acquisition of a 40% interest in two shale gas exploration licences in the United Kingdom. The interests are in the Gainsborough Trough area of the East Midlands which cover an area of 240 km2. The deal was announced on 13 January 2014 and sees Total become the first major to invest in shale gas in the UK.
On completion of the transaction, Total’s partners in the project will be GP Energy Limited (a subsidiary of Dart Energy Europe) (17.5%), Egdon Resources UK Ltd (14.5%), Island Gas Ltd (IGas) (14.5%) and eCorp Oil & Gas UK Ltd (13.5%). IGas will be the operator of the initial exploration programme, with Total subsequently taking over operatorship as the project moves towards development.
Danielle Beggs, partner in Dentons' energy and infrastructure group, said: "Total is a longstanding client of Dentons, and we were therefore delighted to apply our expertise in shale gas to assist them in this landmark acquisition."
The Dentons team was led by Danielle Beggs and included partner Sam Boileau (Environment), senior associates John Stockdale (Energy) and Roy Pinnock (Planning), as well as numerous others from across the firm.