IGas Announces Final Acquisition of Dart Energy

UK-based IGas announced that it will implement its scheme of arrangement for the acquisition of Dart Energy by IGas. 

‘The scheme will now be implemented in accordance with the timetable announced yesterday,’ reads a note released on Wednesday. 

On Tuesday, the Supreme Court of Queensland gave the green light to the project. 

According to IGas, the new shares in IGas to Dart shareholders should be issued on Thursday, October 16. The day after the shares should be admitted to trading on AIM.

Meanwhile, on the other side of the pond, the shale gas industry reported a significant change in direction.

Baker Hughes announced it has implemented a new policy of disclosing 100% of the chemistry used during fracking, ‘without the use of any trade secret designations.’

Saying it wants to increase trust in the technique, the company said that it will not be a threat for market-driven commercial innovation. 

"Introducing greater transparency about the chemicals used in the hydraulic fracturing process and protecting the ability to innovate are not conflicting goals," Derek Mathieson, Baker Hughes chief strategy officer, commented on Wednesday.