Pinsent Masons advises Ithaca Energy on its US$1.5 billion acquisition of Siccar Point Energy

08 Apr 2022 | 03:25 pm |

Multinational law firm Pinsent Masons has advised Ithaca Energy on its US$1.5 billion acquisition of Siccar Point Energy from sponsors Blackstone Energy Partners and Blue Water Energy and the management team.

The acquisition will accelerate Ithaca’s growth, positioning it as one of the leading E&P operators in the UK North Sea through the addition of four of the UK’s largest oil and gas fields by reserves to its portfolio.

The consideration consists of an upfront payment of US$1.1 billion plus up to US$360 million of additional payments contingent on future developments and realised commodity prices. The Siccar Point team and Operatorship of its key UK assets will transfer to Ithaca on closing.

The transaction remains subject to regulatory approvals and is expected to complete around the end of Q2 2022.

The Pinsent Masons team was led by Global Head of Oil & Gas Rosalie Chadwick and comprised a multidisciplinary team including Michael Smith, Steven McKinley, Rachel Warner, Giles Warrington and Jamie Robson.

Commenting on the deal, Rosalie said: “The last few weeks has brought into sharp focus the UK’s need to prioritise its domestic energy supply. The North Sea and its buoyant M&A market continues to play a critical role in supporting this.”

Pinsent Masons has been advising Ithaca Energy on its North Sea portfolio for a number of years, including advising on its US$2 billion acquisition of Chevron North Sea Limited and its US$1.24 billion takeover by Israeli-listed Delek Group

Latest press releases

Show me all press releases

Pinsent Masons hires senior finance partner Nick Tostivin to lead its Finance team in London

Multinational law firm Pinsent Masons has appointed partner Nick Tostivin to join its rapidly expanding financial services team in London, where he will lead the Finance team.

Pinsent Masons recognised in China Business Law Journal's Deals of the Year 2023

Multinational law firm Pinsent Masons has been recognised in the Projects Deal of the Year category of the China Business Law Journal’s (CBLJ) Deals of the Year 2023 list for the firm’s work on the landmark NEOM Smart City Project in Saudi Arabia.

Pinsent Masons advises Bestinver Infra, FCR on acquisition of remaining shares in Irish toll road concession & operation companies

Pinsent Masons has advised Bestinver Infra, FCR on the acquisition of the remaining shares in N6 (Concession) Holdings Limited and N6 (Operations) Ltd, with Japanese co-investor Daiwa Energy & Infrastructure Co. Ltd.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons hires senior finance partner Nick Tostivin to lead its Finance team in London

Multinational law firm Pinsent Masons has appointed partner Nick Tostivin to join its rapidly expanding financial services team in London, where he will lead the Finance team.

Pinsent Masons advises Bestinver Infra, FCR on acquisition of remaining shares in Irish toll road concession & operation companies

Pinsent Masons has advised Bestinver Infra, FCR on the acquisition of the remaining shares in N6 (Concession) Holdings Limited and N6 (Operations) Ltd, with Japanese co-investor Daiwa Energy & Infrastructure Co. Ltd.

Pinsent Masons advises Sandoz on acquisition of remaining shares in Rowex Joint Venture

Multinational law firm Pinsent Masons has advised Sandoz on the acquisition of the remaining shares in Rowex Limited, a joint venture in Ireland between Sandoz and Rowa Pharmaceuticals.

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.