Dart Energy
Dart Energy is an exploration and production company in the unconventional gas industry - natural gas extracted from coal beds and shale. One of its flagship projects is a coalbed methane seam field at Airth in Scotland.
Contents
Activities
Australia
In August 2013 the Australian Securities Exchange halted trading on Dart Energy, shortly after HSBC 'froze the substantial loan facility which Dart enjoyed, citing delays with their coalbed methane project at Airth near Falkirk in Scotland'.
- The company has experienced plummeting share price recently following the decision of the government in New South Wales, Australia (where the company holds significant interests) to ban all coalbed methane activity within 2km of residential areas.
In April 2013 Dart suspended its operations in NSW and slashed its workforce there by 70%. Shares were suspended at 10 Australian cents [1] .
UK
Dart's flagship project at Airth in Scotland faces strong community opposition and has been beset by delays. The Scottish press reported in August 2013 that:
- The company has appealed their application for 22 new wells, a gas and water treatment facility and a network of new pipelines, to the Scottish Government on the grounds of non-determination. A public enquiry is expected to begin in the second half of October (2013). [2]
Dart Energy's 'strategic themes' for the UK:
- Commercialise significant volumes of already identified CBM resources and supply gas into the National Gas Transmission System ("NTS") and Local Transmission System (“LTS”) pipelines (or other monetisation solutions)
- Identify prospective shale gas basins across the UK and develop and execute a shale exploration and appraisal program
Sites
Coal bed methane at Airth - Midland Valley, Scotland, Midland Valley Basin The Airth project (PEDL 133) covers 330 km2 in the Midland Valley in Scotland, approximately 50 kilometres northwest of Edinburgh near Stirling. It covers a large part of the Clackmannan coal field that was extensively mined in the 19th and 20th centuries.
- Extensive exploration and appraisal work has been done to-date and Dart Energy has moved into early development via a small-scale pilot-to-power project during 2012, using gas produced from the Airth-12 well. This well has now been shut in, pending full field development. Full field development is currently underway, with gas supply targeted from late 2014.
Dart says it 'currently' has 'no plan to frack the coals at Airth'.
- Project phase: Early development
- Area: 330 km2
- Contract award: 1 July 2004
- Participants: CBM - Dart Energy 100%
- Contract expiry: 30 June 2015
- Contract type: Concession
- Participants
- CBM - Dart Energy 100%
- Black Metal Shale – Dart 100%
- Lothian (Broxburn) Shale – Dart 49%, BG 51% [4]
Affiliations
People
Funding
Contact
- Website: http://www.dartgas.com/
Resources
Notes
- ↑ Australian Securities Exchange halts trading on Dart Energy, newsnetScotland.com, 30 August 2013
- ↑ Australian Securities Exchange halts trading on Dart Energy, newsnetScotland.com, 30 August 2013
- ↑ United Kingdom, Dart Energy website, undated, acc 12 February 2014
- ↑ PEDL 133 - Airth, Dart Energy website, undated, acc 12 Feb 2014
