Hutton Acquires 100% of Newton Energy UK

Hutton Energy signed a Term Sheet with Newton Energy to acquire 100% of its wholly-owned subsidiary Newton Energy UK, confirming the ongoing consolidation trend in the UK shale gas industry. 

“The acquisition of Newton UK gives Hutton exposure to the emerging shale gas sector in the UK as well as a number of exciting conventional prospects. This is consistent with Hutton’s strategy of combining both unconventional and conventional opportunities in the same basin. Importantly it also positions Hutton in both the UK and Poland, Europe’s most supportive shale gas countries,” David Messina, MD of Hutton commented in a note.  

Newton UK has exploration rights on an area covering approximately 111,000 acres in the East Midlands.

Recently, iGas announced its intention to acquire Dart Energy’s shale assets in the UK, while Egdon Resources entered in conditional agreement with Alkane Energy.