Europe represents a high demand, high gas price environment for gas producers. Dart is working to explore, appraise and develop coal bed methane in multiple countries across Europe.
Dart Europe Limited (formerly Composite Energy Limited)
In February 2011, Dart Energy completed the acquisition of 100% of Composite Energy Limited, representing Dart Energy's entry into the European CBM and shale gas industry. Composite was established in 2004 to pursue CBM and shale gas opportunities in Europe. Prior to the acquisition by Dart, it was owned by its founders and management, and strategic and financial advisors, including the Royal Bank of Scotland and BG Group. Composite has since been rebranded as Dart Europe.
Dart Europe has offices in Scotland and Poland and holds 15 CBM licences in the UK, 3 CBM licences in Poland. The company has a staff base of 25 that includes technical, engineering, land access and planning, financial, business development and commercial capabilities.
Dart Europe's portfolio of CBM assets has 14.8 Tcf of gross OGIP and 0.77 Tcf of gross 2C resource, as certified by Netherland, Sewell & Associates Inc. In addition, Dart Europe has approximately 1.22 Tcf of shale gas OGIP.