IGas has completed the farm-out and purchase agreement (FOPA) with INEOS.
INEOS will assume operatorship of PEDLs 133, 145 and 193 and EXL 273 in phases, following an orderly handover.
All of the necessary consents and approvals have now been received from DECC.
Commenting today, Andrew Austin, Chief Executive said, 'We are delighted to have completed the transaction with INEOS and look forward to working with the INEOS team over the coming years. We now are operating on behalf of Total, GdF and INEOS, with a gross carried work programme of US$285m, to unlock the shale gas potential across the North West and East Midlands.'