Macquarie Bank Limited’s US$55 Million Facility To Otto Energy (USA) Inc.

Ashurst has advised Macquarie Bank Limited on a US$55 million facility in favour of Otto Energy (USA) Inc., a subsidiary of ASX listed Otto Energy Limited.

The Facility will be used to fund Otto’s current and future developments, including Green Canyon 21, Lightning and any new discoveries arising from the remainder of its current programs in the Gulf of Mexico, USA.

Otto Energy is an oil and gas exploration and production company with a regional focus on North America. The Company currently has oil production from its SM 71 oil field in the Gulf of Mexico and gas/condensate production from its Lightning discovery onshore Matagorda County, Texas.

The Ashurst team was led by partner Chris Redden (Picture), with support from partner Antonella Pacitti, senior associate Rowan Krasnoff and associate Melany Wilson.

Involved fees earner: Rowan Krasnoff – Ashurst; Antonella Pacitti – Ashurst; Chris Redden – Ashurst; Melany Wilson – Ashurst;

Law Firms: Ashurst;

Clients: Macquarie Bank;

Author: Michael Patrini