Dart Energy

What Dart Energy does

Dart Energy is an Australian-listed unconventional gas company that explores, appraises and develops coalbed methane (CBM) and shale gas resources. Following an April 2013 corporate restructure, the company's strategic focus narrowed to its UK asset base: the PEDL 133 (Airth, Scotland) and PEDL 159 (Canonbie) CBM licences, and a substantial shale gas acreage position in the Bowland Basin in England, where Dart holds the largest position among three operators and an independent assessment of up to 110 TCF gas-in-place. The company has recorded Europe's first commercial CBM gas flow-rate (greater than 0.8 Mscf/d per well, with capacity above 1 Mscf/d) and Scotland's first CBM-generated electricity, with first commercial gas sales into the UK National Gas Transmission System pipeline scheduled for 2014.

The underlying technology centres on specialised drilling and completion techniques for extracting methane adsorbed onto coal micropores (CBM) and from shale formations, supported by geological and geochemical exploration methods. Dart Energy employs roughly 80 people across offices in Singapore (regional HQ), Sydney (Australian HQ), Beijing, Jakarta, India and the UK. The business model combines direct natural gas production and sale into the UK NTS with joint-venture partnerships — Dart typically holds 100% working interest and seeks partner funding and operational synergy to develop individual licences. In November 2013 the company agreed to merge with IGas Energy, a London AIM-listed unconventional gas operator, via a scheme of arrangement, a transaction that would consolidate the two UK unconventional gas players under a single listed entity.

Name

Dart Energy

Legal name

Dart Energy

Website

https://dartenergy.com.au

Company type

Private

Founded year

2008

Operating status

Acquired

Headcount range

101–250 employees

Short description

Dart Energy is an Australian-listed unconventional gas company that explores and develops coalbed methane and shale gas assets, with its strategic focus on UK licences in the Bowland Basin, PEDL 133 (Airth) and PEDL 159 (Canonbie), selling into the National Gas Transmission System.

Ownership category

akta.pro rank

Product category

Oil & Gas Exploration and Production

NAICS

Natural Gas Extraction (211130)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro industry

PRIMARYEUALAAAH

Unconventional Resources Development (Shale/Tight, CBM)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Upstream Exploration & Production (E&P)

SECONDARYEUAAAAAD

Coalbed Methane (CBM) / Coal Seam Gas (CSG)

Energy, Utilities & Environment/Bioenergy, Natural Gas & Biomass/Natural Gas Exploration & Production (Upstream)

Keywords

• Unconventional gas exploration
• Coalbed methane development
• Shale gas extraction
• Natural gas production
• Upstream gas operations

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Natural Gas Production and Sales: Production and sale of CBM and shale gas into the UK National Gas Transmission System (NTS) pipeline. First gas sales scheduled for 2014 from PEDL 133 development.
2. Joint Venture Partnerships: Joint venture partnerships where Dart Energy offers working interest (typically 100%) in exchange for partner funding and business synergy to develop CBM and shale gas assets.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Dart Energy explores, appraises, and develops unconventional gas resources, primarily coalbed methane (CBM) and shale gas, supplying produced gas into the UK National Gas Transmission System pipeline. The company operated CBM assets in Scotland (PEDL 133 at Airth) and England (PEDL 159 at Canonbie), along with the largest acreage position in the Bowland Basin shale play in England.

Product overview

Dart Energy is an Australian-listed unconventional gas company offering a portfolio of CBM and shale gas exploration and development assets. The company operates two primary CBM assets in the UK (PEDL 133 at Airth and PEDL 159 at Canonbie), where it has achieved significant milestones including Europe's first commercial CBM gas flow rates. Additionally, Dart Energy holds substantial shale gas acreage in the Bowland Basin in England, with independently assessed gas-in-place of up to 110 TCF. The company supplies gas into the UK's National Gas Transmission System pipeline infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• CBM (Coalbed Methane) Gas Development Exploration and development of coalbed methane resources by extracting methane adsorbed into coal micropores using specialised drilling and completion technologies. Targeted at supplying gas into the UK National Gas Transmission System.
• Shale Gas Development Exploration and development of shale gas resources through identification and appraisal of prospective shale gas basins using geological and geochemical analysis, with a focus on the Bowland Basin in England.
• PEDL 133 - Airth CBM asset in Scotland with established commercial viability, achieving first electricity from CBM in Scotland, first commercial gas flow-rate in Europe, and independently assessed proven reserves. Capable of flowing greater than 1 Mscf/d per well.
• PEDL 159 - Canonbie CBM asset in the UK where early appraisal wells have demonstrated gas flows of greater than 0.2 Mscf/d, with pilot production wells and testing planned using proven drilling techniques.
• Bowland Basin Shale Assets Substantial shale gas acreage position in the most prospective shale gas play in the UK, with independent assessment of gas-in-place up to 110 TCF. Dart Energy held the largest acreage position among three operators in the basin.

Quantifiable outcome

• UK may only meet 27% of gas demand from domestic production by 2020, creating significant market opportunity
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• IGas EnergycoreStrategic or Co-development Partner · 1 November 2013Dart Energy agreed to merge with IGas Energy via a scheme of arrangement. IGas Energy is listed on London's secondary AIM market. This merger would combine the two unconventional gas companies.
• Joint Venture Partners (PEDL 159)minorStrategic or Co-development PartnerDart Energy is actively seeking appropriate partner(s) to develop PEDL 159 licence. 100% Dart Energy working interest provides opportunity to form JV partnership to secure funding and business synergy.
• Joint Venture Partners (Bowland Shale)minorStrategic or Co-development PartnerDart Energy is actively seeking appropriate partner(s) to develop the Bowland shale gas position. 100% Dart Energy working interest provides opportunity to form JV partnership to secure funding and business synergy.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Origin Energy: Large Australian integrated energy company with substantial coal seam gas operations (Australia Pacific LNG). Comparable as a regional incumbent with deep CBM expertise that Dart explicitly benchmarks itself against for replication.
• Santos: Major Australian energy company and significant CBM operator (GLNG). Comparable as a broader incumbent in the same unconventional gas (CBM) category that Dart aims to replicate commercially in Europe and Asia.
• Arrow Energy: Australia's largest CBM producer (acquired by Shell and PetroChina), focused on Queensland CBM-to-LNG development. Comparable as a regional CBM incumbent that established the Australian unconventional gas benchmark Dart targets.
• Chevron: Global supermajor with UK shale gas exploration licences in the Bowland Basin. Comparable as a broader incumbent exploring the same UK shale play, validating the opportunity while representing significant competitive pressure for acreage.
• Encana (now Ovintiv): North American leader in unconventional gas (CBM and shale) development. Comparable as the established benchmark whose CBM and shale playbook Dart explicitly intends to replicate in Europe and Asia.

Direct peers

• Cuadrilla Resources: UK-focused shale gas explorer and operator of the Bowland Basin, one of only three operators in the play alongside Dart. Directly comparable as a UK shale gas E&P peer with overlapping acreage and similar regulatory exposure.
• IGas Energy: London AIM-listed UK onshore oil and gas operator with unconventional gas (CBM and shale) interests. Dart agreed to merge with IGas Energy in November 2013, making it the most directly comparable peer in product, geography, and stage.
• Third Energy: UK-based onshore gas operator with conventional and unconventional gas exploration assets, including plans for hydraulic fracturing in Yorkshire. Comparable as a UK-focused onshore gas E&P facing similar regulatory and operational dynamics.
• Egdon Resources: UK-based onshore oil and gas exploration and production company with conventional and unconventional gas interests including shale licences in the Bowland Basin. Comparable as a small-cap UK onshore gas explorer targeting similar plays.

Emerging players

• Aurora Petroleum: Small UK-focused oil and gas exploration company with onshore licences. Comparable as a niche UK onshore E&P peer operating in a similar regulatory and geological environment to Dart.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/dartenergyuk

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dart Energy