Exxon eyes stake in UK shale gas project
LONDON -- Exxon Mobil has entered talks to buy a stake in the Bowland shale gas project in in northwest England, owned by Igas Energy, according to the Sunday Times.
The UK newspaper said Igas Energy launched a search this summer for a partner to help it develop the project in Lancashire, adding that Shell, Total and Statoil are also considering bids.
Some bankers consider the process could ultimately lead to a takeover of IGas, valued at $202.1 million, the newspaper said. IGas wasn' t immediately available for comment.
Dow Jones Newswires