Dart Energy shares have tumbled to record lows as the company cuts costs and slashes jobs in response to government crackdowns on coal seam gas projects.

Dart will close offices and axe 70 per cent of its workforce, taking the number of employees to 50, as it aims to slice costs by nearly two thirds.

It is also suspending field operations at Fullerton Cove, near Newcastle in NSW, and switching focus to developing CSG projects in Britain and China.

The moves come after the NSW government announced tough new coal seam gas regulations, including a ban on CSG drilling near homes.

The federal government also plans new environmental laws covering coal and CSG projects amid public concerns about their impact on water resources.