BY RUTH HAYHURST ON MARCH 9, 2017
INEOS has increased its onshore exploration licence area in the UK to more than 1.2m acres, it announced this morning
A statement from the company said it had completed its acquisition of all the Petroleum Exploration and Development Licences (PEDLs) held by Engie E&P UK.
Under the deal, INEOS Upstream gained interests in 15 PEDL licences in Cheshire, the East Midlands and Yorkshire.
INEOS already had a stake in seven of the PEDLs and now has a majority interest in five. All the licences are held in partnership with either IGas or Cuadrilla.
Six of the PEDLs were granted under the most recent 14th licensing round. The remainder were from earlier licence rounds.
INEOS is the operator in three PEDLs, all in Cheshire (EXL273, PEDL293 and PEDL295).
Seven of the licence licences are operated by IGas (PEDL147, 188 and 189 in Cheshire, EXL288 and PEDL012, 200 and 210 in the East Midlands and PEDL146 in Yorkshire).
The remaining four licence, all in Yorkshire and issued in the 14th round, are operated by Cuadrilla (PEDL287, 288, 342 and 346).
INEOS was the most successful bidder in the 14th licence round confirmed in December 2015. It was named as the operator of 21 licences, way ahead of the next most successful company, IGas which received 11.