La Française de l’Énergie (LFDE) Completes the Acquisition of Gazonor
12 Juillet 2016 - 06:57PM
Business Wire
- LFDE becomes the largest gas
producer in France
- Strategic asset for the development
of LFDE
- Significant growth potential already
identified
Regulatory News:
La Française de l’Énergie (LFDE) (Paris:LFDE) is pleased to
announce the completion of the acquisition of Trancor Astra
Luxembourg (TAL) and its operational subsidiary, Gazonor SAS
(Gazonor) for a purchase price of €19.87 million.
This deal represents a major step in the development of LFDE and
completes the acquisition process launched on 14th January
2016.
Following the completion of this transaction, La Française de
l’Énergie becomes the largest gas producer in France and reinforces
its position as a major producer of local energy replacing imported
gas in the former mining basins located in the North-East of
France.
Gazonor, a strategic asset for the development of
LFDE
Gazonor holds two production licenses and two exclusive
exploration permits in the Nord-Pas-de-Calais region where 225 BCF
of 2P reserves and 1.87 TCF of 2C contingent resources have already
been certified.
Thanks to Gazonor, La Française de l’Énergie becomes the main
gas producer in France and generates revenues through its coal mine
methane production at the Avion site which is currently sold into
the regional gas pipeline network.
Some major and clearly identified prospects for future
development
This acquisition will allow LFDE to implement its announced
transformation of capturing the coal mine methane present in the
former mining galleries and converting it into a clean electricity
to be used locally.
This transaction also provides LFDE access to its first
international project through two permits held by Gazonor in the
Walloon region in Belgium.
About La Française de l’ÉnergieAwarded the young
innovative status by Bpifrance since June 2013, La Française de
l’Énergie is a dynamic SME headquartered in East of France and the
first gas producer in France. Specialised in the coal bed methane
and coal mine methane production, La Française de l’Énergie
produces a local high quality energy from the significant gas
resources contained in the former mining basins of North-Eastern
France.With the development of this local and strategic energy, La
Française de l’Énergie builds an economically and ecologically
competitive project with significant value added for the local
communities.
Reuters code: LFDE.PA Bloomberg code: LFDE.FP
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