Pinsent Masons advises Ithaca Energy on landmark $2 billion North Sea acquisition
31 May 2019 | 10:00 am | 1 min. read
International law firm Pinsent Masons has advised North Sea focussed oil and gas operator Ithaca Energy Limited on its acquisition of Chevron North Sea Limited ("CNSL") in a deal worth $2 billion.
The transaction will add a further ten producing field interests to the existing portfolio, four of which relate to assets operated by CNSL.
Pinsent Masons advised Ithaca Energy on all aspects of the deal, which will result in a 300% increase in 2019 forecast production, and establish it as the second largest independent oil and gas producer in the UK North Sea.
The Pinsent Masons team was led by Head of Corporate Finance Rosalie Chadwick, and was assisted by Brian Thumath, James McMillan and Ailie Isdale (Corporate), Iain Macaulay and Michael Duffy (Finance), Shirley Allen and Rachel Warner (Oil & Gas), Euan Smith (Employment), Jae Fassam (Pensions) and Jeremy Webster and Jamie Robson (Tax).
Rosalie Chadwick, lead partner on the deal said, "This has been another exciting chapter in our long standing relationship with Ithaca. This reinforces Ithaca's position as a major player in the UK's North Sea, as well as an example of continued investment and interest in the North Sea Continental Shelf. It is a transformational deal for Ithaca and one we are delighted to have be involved in in 2017.”
Pinsent Masons also advised Ithaca on its $1.24 billion takeover by Israeli-listed Delek Group.
Key Contacts
Meet the team
Show me all
Rosalie Chadwick
Partner
Rosalie is Global Head of Oil & Gas at Pinsent Masons and specialises in complex M&A and domestic and international corporate finance transactions in the Oil & Gas sector UK and worldwide.
Brian Thumath
Partner
Brian specialises in corporate law and advises clients on all matters including mergers and acquisitions, equity fundraisings, joint ventures, investments, takeovers and corporate governance.
Michael Duffy
Legal Director
Michael specialises in Energy and Infrastructure finance, impact investment and sustainable finance across Europe and Africa, advising lenders, stakeholders and developers in project and asset finance transactions and acquisitions/divestments in the renewable energy, infrastructure and oil and gas markets.
Rachel Warner
Legal Director
Rachel is a legal director who specialises in upstream oil and gas projects and general commercial contracts for the industry and has particular experience in the acquisition, disposal and operation of offshore assets.
Latest press releases
Show me all press releasesPinsent Masons advises on £230m plus Penta Real Estate and Staycity Group London aparthotel joint venture
Multinational law firm Pinsent Masons has advised Penta Real Estate on its investment into a landmark £230 million-plus joint venture with Staycity Group and advised the joint venture on the financing arrangements for the development, which will deliver a 350-room Wilde aparthotel in the heart of London's Farringdon district.
Pinsent Masons advises industrial manufacturers PROXMUS and Promus on the sale of their businesses to CGH Group
Multinational law firm Pinsent Masons has advised manufacturing companies PROXMUS and Promus on the sale of their businesses to CGH Innovation, one of Europe’s leading manufacturers of steel tanks and a portfolio company of H.I.G. Capital, a global private equity firm headquartered in Miami.
Pinsent Masons appoints first Co-Heads of Innovation and Transformation
Multinational law firm Pinsent Masons has appointed Head of Commercial, Clare Francis and Head of Restructuring, Stacey Bairner as its first Co-Heads of Innovation and Transformation, accelerating the firm's existing focus on embedding innovation into service delivery.
People who viewed this press release also viewed
Show me all press releasesPinsent Masons appoints contractor-side infrastructure specialist as partner in Sydney
Multinational law firm Pinsent Masons has appointed Jonathan Stafford as a partner in its Sydney office, further strengthening its energy and infrastructure projects capability across Australia and the Asia Pacific region.
Pinsent Masons supports SGE on joint venture project for the development of small modular reactors
Multinational law firm Pinsent Masons has advised SGE on entering into a shareholders’ agreement with ZE PAK concerning the establishment of PAK BWRX. The company’s purpose will be to develop and operate six reactors using BWRX-300 technology, with a combined capacity of 1.8 GW.
Pinsent Masons advises EDF power solutions on Five Estuaries Offshore Wind Farm acquisition
Multinational law firm Pinsent Masons has advised long-standing client EDF power solutions on its acquisition of a 33.3% interest in the Five Estuaries Offshore Wind Farm project from RWE, marking a significant addition to EDF power solutions’ UK offshore wind development portfolio.
For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on
Location contacts
Europe: [email protected]
Asia: [email protected]
Middle East: [email protected]
Australia: [email protected]