London – May 11, 2015 – Cooley advised IGas Energy Plc, the UK's largest shale gas explorer, on a £168 million farm-out and purchase agreement with Swiss company INEOS.

The deal will provide INEOS with access to IGas sites in the North West and East Midlands of England. As part of the transaction, INEOS will also acquire IGas's interest in the shale gas license around Grangemouth in Scotland.

Following the transaction, IGas will have up to approximately £190 million of total spend from third parties across its key shale gas acreage from major partners, including Total E&P UK Limited, GDF SUEZ E&P UK Limited and INEOS. This will equip IGas with a significant and fully funded work programme, including 15 wells, flow tests and gas handling stations.

The Cooley team advising IGas was led by London-based partner Ed Lukins.

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