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, advising lenders (bank and non-bank), stakeholders and developers in project and asset finance transactions and acquisitions/divestments in the renewable energy, infrastructure and oil and gas markets.
Shirley Allen
Partner
Shirley has extensive knowledge of the oil and gas sector having advised clients in this sector for over twenty years.
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 has advised Tokai Carbon on the sale of its German subsidiary TOKAI ERFTCARBON GmbH
Multinational law firm Pinsent Masons has advised Tokai Carbon Co., Ltd. (“Tokai Carbon”) on the sale of its German subsidiary TOKAI ERFTCARBON GmbH (“TEG”), to Lenbach Equity Opportunities III. GmbH & Co. KG, which is exclusively advised by DUBAG Investment Advisory GmbH (“DUBAG”).
Pinsent Masons advises on Shackleton exit
Multinational law firm Pinsent Masons has advised the shareholders of independent financial advisory and wealth management firm Shackleton, including the private equity buy-and-build specialist Sovereign Capital Partners, on the exit to Lee Equity Partners.
Pinsent Masons named by The Times as a Top 50 Employer for Gender Equality
Multinational law firm Pinsent Masons has been announced by Business in the Community as one of The Times Top 50 Employers for Gender Equality in 2025. This year’s list marks the sixth time that the firm has been recognised for its commitment to embedding gender equality into all levels of the organisation.
People who viewed this press release also viewed
Show me all press releasesPinsent Masons advises Gulf Nav on its AED 3.2 billion reverse takeover of Brooge Petroleum Gas Investment from Brooge Energy Limited
Multinational law firm Pinsent Masons has advised Gulf Navigation Holding PJSC (Gulf Nav), the only maritime and shipping company listed on the Dubai Financial Market, on its landmark reverse takeover of Brooge Petroleum and Gas Investment Company from NASDAQ-listed Brooge Energy Limited.
Pinsent Masons bolsters global energy offering with new corporate partner in Aberdeen
Multinational law firm Pinsent Masons has hired energy specialist Chris Sawyer to join the corporate team as a partner in the firm’s Aberdeen office from 27 May.
Pinsent Masons promotes 24 to global partnership
Multinational law firm Pinsent Masons has today announced its latest round of partner promotions, with 24 set to join its global partnership on 1 May.
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]