Harbour Energy Limited’s $3 Billion Acquisition of Chrysaor Holdings Limited

White & Case LLP has advised Harbour Energy Limited (Harbour Energy), the energy investment vehicle managed by EIG Global Energy Partners (EIG), on its agreement to lead the US$3 billion acquisition by Chrysaor Holdings Limited (Chrysaor) of a diversified portfolio of oil and natural gas assets in the North Sea from Shell UK and its affiliates.

The Harbour Energy deal creates the UK’s leading independent oil and gas company focused on the North Sea. The assets include Shell interests in ten operated and non-operated fields, associated infrastructure and midstream assets and around 400 employees. Harbour Energy, together with funds managed by EIG, will provide Chrysaor with up to US$1 billion to support the acquisition and provide future growth capital. The remainder of the capital required for the acquisition will be provided by lenders.

Harbour Energy is an energy investment vehicle established by EIG and the Noble Group to pursue control and near control investments in high quality upstream energy assets globally. EIG specializes in private investments in energy and energy-related infrastructure on a global basis, and since 1982 has been one of the leading providers of institutional capital to the global energy industry. Chrysaor is a private company established in 2007 which focuses on generating superior equity returns by developing and commercialising oil and gas incremental resources.

The White & Case team which advised on the transaction was led by partners Ian Bagshaw (Picture) and Richard Jones (both London) and included partners Tom Bartlett, Martin Forbes, Michael Wistow, David Baker (all London) and Mark Powell (Brussels), and associates Nicole Vella, Linford Coates, Adnan Bekdur, Johanna Hayward, Nic Kennedy, Paul Harrington, Henry Brendon (all London) and Marika Harjula (Brussels).

Involved fees earner: Ian Bagshaw – White & Case; Richard Jones – White & Case; Nicole Vella – White & Case; Linford Coates – White & Case; Adnan Bekdur – White & Case; Tom Bartlett – White & Case; Martin Forbes – White & Case; Michael Wistow – White & Case; Paul Harrington – White & Case; David Baker – White & Case; Johanna Hayward – White & Case; Nic Kennedy – White & Case; Henry Brendon – White & Case; Mark Powell – White & Case; Marika Harjula – White & Case;

Law Firms: White & Case;

Clients: Harbour Energy Limited;