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.

Meet the team

Show me all
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.

Thumath Brian
Michael Duffy

Senior Associate

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.

Duffy Michael
Shirley Allen

Partner

Shirley has extensive knowledge of the oil and gas sector having advised clients in this sector for over twenty years.

Allen Shirley
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.

Warner Rachel

Latest press releases

Show me all press releases

Pinsent Masons builds out its Luxembourg office with the hire of funds specialist Dr Jan Saalfrank LLM

Pinsent Masons builds out its Luxembourg office with the hire of funds specialist Dr Jan Saalfrank LLM

Pinsent Masons advises SUSI Partners on the launch of its Southeast Asian Renewables platform

Multinationallaw firm Pinsent Masons has advised SUSI Partners and its Asia EnergyTransition Fund on the launch of a renewable energy platform to developlarge-scale renewable assets across Southeast Asia.

Pinsent Masons hires corporate partner in Melbourne

Multinational law firm Pinsent Masons has strengthened its corporate team in Australia with the recruitment of partner Andrew Fisken.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons advises SUSI Partners on the launch of its Southeast Asian Renewables platform

Multinationallaw firm Pinsent Masons has advised SUSI Partners and its Asia EnergyTransition Fund on the launch of a renewable energy platform to developlarge-scale renewable assets across Southeast Asia.

Pinsent Masons hires corporate partner in Melbourne

Multinational law firm Pinsent Masons has strengthened its corporate team in Australia with the recruitment of partner Andrew Fisken.

Pinsent Masons acquires sustainable finance consultancy Morgan Green Advisory

Multinational law firm Pinsent Masons has expanded its Climate & Sustainability capability through the acquisition of international sustainable finance specialists, Morgan Green Advisory.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts

We are processing your request. \n Thank you for your patience. An error occurred. This could be due to inactivity on the page - please try again.