Bond Dickinson LLP and Dechert LLP have advised Chrysaor, the UK oil & gas independent, on a multi-billion dollar deal as it acquires a package of UK North Sea assets from oil giant Shell.
The $3 billion + transaction relates to a package of assets in the UK North Sea and consists of Shell’s interests in Beryl, Bressay, Buzzard, Elgin-Franklin, Erskine, Everest, the Greater Armada cluster, J Block, Lomond, plus a 10% stake in Schiehallion. The assets being acquired produced 115,000 barrels of oil equivalent per day in 2016.
Following completion, the acquisition will see Chrysaor become the leading UK independent focused on the North Sea. The deal is expected to complete in the second half of 2017 and will result in the transfer of around 400 Shell staff to Chrysaor.
Bond Dickinson LLP advised Chrysaor on the deal with a team led by oil and gas head partner Paul Stockley.
Dechert LLP advised Chrysaor Holdings Limited on the deal with a team led by corporate partner Jonathan Angell, along with corporate senior associates Mike Jarrett, Jodie Valler-Feltham and Jessica Tschirdewahn. Additional team members include employment partner Charles Wynn-Evans and senior associate Jennifer McGrandle, tax senior associate Daniel Hawthorne, and antitrust/competition partner Clemens York.
Involved fees earner: Paul Stockley – Bond Dickinson; Jonathan Angell – Dechert; Mike Jarrett – Dechert; Jodie Valler-Feltham – Dechert; Jessica Tschirdewahn – Dechert; Charles Wynn-Evans – Dechert; Jennifer McGrandle – Dechert; Daniel Hawthorne – Dechert; Clemens York – Dechert;
Clients: Chrysaor Holdings Limited ;