Ineos buys Engie’s UK onshore shale acreage

Ineos Shale, part of the Ineos Group, has completed the acquisition of the entire UK onshore petroleum exploration and development license interests of Engie E&P UK.

The acquisition increases Ineos acreage under license to more than 1.2 million acres, the company said in a statement.

The transaction involves minority interests in 15 licenses, seven of which Ineos holds an existing interest in.

The remaining eight complement the company’s existing license interests in Yorkshire, Cheshire and the East Midlands. Three of the licenses are operated by INEOS, eight by IGas Energy and four by Cuadrilla.