SLR has contributed to a successful farm-in agreement between GDF Suez and Dart Energy, after carrying out environmental advisory and due diligence work.
The deal involved GDF Suez acquiring a 25% share in 13 UK onshore licences, and represents the company’s first entry into UK onshore exploration licences with shale gas and coal bed methane potential.
SLR’s due diligence assignment included assessment and evaluation of each target Petroleum Exploration and Development (PEDL) and exploration licenses and addressed a range of environmental and Social Licence to Operate (SLTO) issues. The results of the work undertaken by SLR contributed to GDF Suez’s overall evaluation of each licence as part of their assessment process.
“The feedback we have received from GDF Suez has been very positive and is a testament to the quality of our work as well as our ability to meet tight deadlines. Environmental and SLTO due diligence is an increasingly important component of overall unconventional gas project evaluation”, commented SLR technical director, Tony Smith.
A considerable amount of GDF Suez’s future investment in the UK will be focused on exploration work. This will include the drilling of up to four wells targeting shale gas potential in the Bowland Basin, and ten wells targeting coal bed methane.
Adapted from press release by Katie Woodward
Read the article online at: https://www.worldcoal.com/cbm/29112013/slr_supports_cbm_agreement_308/