Akin Gump advised Wintershall DEA in an agreement to acquire certain interests in Block 5 in the Cuenca Salina Basin offshore Mexico from Ophir Energy Plc.
The $35 million cash deal calls for Wintershall to purchase 23.33 percent of Ophir’s stake in Block 5. Upon closing, 40 percent of the interest in the license will be held by Murphy Sur, S. de R.L de C.V (operator), 30 percent by Sierra Offshore Exploration, S. de R.L. de C.V. and 30 percent by PC Carigali Mexico Operations, S.A. de C.V. The sale is expected to close before the end of the year and is subject to government and regulatory approval.
The Akin Gump deal team advising Wintershall comprised oil and gas partner David Sweeney (Picture) and associates Eduardo Canales and Marcela Varela-Sisley.
Law Firms: Akin Gump;
Clients: Wintershall Holding GmbH;