Dart Energy Creates Shale Subsidiary for its European Development
Dart Energy has created a wholly-owned subsidiary and business unit named Dart Energy International Shale Pte Ltd to manage, develop and monetize its growing European shale gas resources.
Dart Energy owns 15 shale gas exploration licenses, in the United Kingdom, Poland and Germany.
These assets provide opportunities for shale gas prospectivity in countries that have large gas deficits and a reliance on imported gas, and high gas prices, the company said.
These factors would serve as catalysts to early monetization of unconventional gas resources, Dart said in a statement on Monday.
Dart executive chairman Nick Davies said the company for some time had sought to expand into the shale gas arena.
"We have now assembled an initial shale gas portfolio that, although highly prospective, requires relatively low capital commitment over the next two to three years, and is well suited to Dart's experience and capabilities," he said.
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