Total extends option to develop shale gas in England

French energy company Total has extended an option with British shale gas developer Egdon Resources to buy a stake in one of Egdon's natural gas licenses in Lincolnshire, England, according to Reuters. The news service says the extension comes as the British government tries to exploit large amounts of shale gas to offset declining North Sea oil and gas production, create jobs and help economic growth. Reuters notes Total has also been building “a sizeable presence” in the U.S. shale oil and gas market, most recently buying assets in Texas from Chesapeake Energy Corp. For more, read the full story.

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