Exxon eyes stake in UK Shale gas project

12/17/2012

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

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