ReachCSG operates the DECC hydrocarbon licence PEDL162 in the Midland Valley of Scotland. Ineos have now acquired an 80% stake in PEDL 163 covering 154 square miles north east of Glasgow. Reach CSG, said that the sale would effectively underwrite planned exploration spending in the licence area which would include two vertical wells and a seismic survey.
This company is closely associated with Reach Exploration a company that holds a number of off-shore, near shore and onshore licences where conventional resources are being targeted.
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