Looking to expand shale-based oil production outside of its home country of France, where the controversial process of hydraulic fracturing drilling is banned, Total SA (ADR) (NYSE:TOT) (EPA:FP) announced it was purchasing a 40% stake in two U.K. oil exploration areas. Total’s partner IGAS Energy PLC (LON:IGAS) (OTCMKTS:IGESF), which holds 14.5% of the permits to explore in the area, will be the operator of the exploration project. Total’s fracking business The $47 million payments for exploration rights to Dart Energy Ltd (ASX:DTE) (OTCMKTS:DEGEF) make Paris-based Total SA (ADR) (NYSE:TOT) (EPA:FP) the largest oil company to enter the U.K. fracking business, according to…
Total Becomes Largest Energy Producer To Enter UK Fracking Exploration
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.