Reuters: Australia's Dart Energy Ltd on Thursday announced it has finalised an agreement to farm-out 13 UK onshore licences in the Bowland shale across northwest and central England to GDF-Suez.
Under the deal, GDF-Suez will pay Dart $12 million in cash upfront and $27 million in exploration and appraisal costs in exchange for a 25 percent share of the onshore licences.
Dart inked the deal on the heels of a boardroom coup earlier this week that replaced chairman Nicholas Davies with Robert Neale, the...