Dechert LLP advised Chrysaor Holdings Limited (“Chrysaor”), the UK oil & gas independent, on its acquisition of a package of assets in the UK North Sea from Shell UK Limited and its affiliates (“Shell’’) for US$3 billion. Future additional payments may be made between the two companies, contingent upon exploration results and commodity prices. The transaction is subject to regulatory and partner consents and is expected to complete in the second half of 2017.

Berwin Leighton Paisner (“BLP“) have advised AIM and TSX-v listed SDX Energy Inc. (“SDX” or the “Company”) on its $40m fundraising, raising 130% of its previous market capitalisation.  The fundraising is to fund and was conditional on the acquisition of a portfolio of oil and gas production and exploration assets in Egypt and Morocco, which were held by Circle Oil plc, from the Administrator of one of Circle’s subsidiaries for $30m. The acquisition and fundraising both completed on 27 January.

Norton Rose Fulbright has advised BP on its substantial acquisition of the retail fuel distribution business owned by Woolworths Limited, comprising a network of 527 existing retail petrol station sites and 16 committed development sites located in Australia.

Clifford Chance is advising Battersea Power Station Development Company on the construction aspects of the landmark Battersea Power Station redevelopment in London. The firm has advised on the project since 2012, initially supporting on its Northern Line underground extension, a critical element to the commercial success of this iconic project. The enormous tunnel boring machines were unveiled on site this week, and tunnelling has recently been scheduled to begin March 2017.

Ashurst is advising EnQuest plc, the largest independent UK oil producer in the UK North Sea, on its agreement to buy a 25% stake in BP's Magnus oil field. EnQuest will also acquire 25% of BP’s interest in associated pipeline infrastructure in the UK’s northern North Sea and a 3% interest in the Sullom Voe Terminal (SVT) on Shetland from BP Exploration Operating Company Limited.

The US$85 million consideration will be funded by deferred consideration payable from the cash flow from the assets. 

Clyde & Co has successfully defended its client PetroSaudi at the Court of Appeal.

In proceedings where Clyde & Co acted for the successful appellant, the Court of Appeal has held that a solicitor who signed demands under a standby letter of credit correctly understood the statement of law he was certifying.

In the Judgment handed down this morning, the Court of Appeal completely vindicated PetroSaudi and in particular its General Counsel and ordered payment of sums owing to them under a standby letter of credit (SBLC).

Our team has assisted with the incorporation and OTC listing of Borr Drilling in December and on the rig acquisitions.

Haavind is acting as legal advisor to the board and management of Spectrum in connection with the competing takeover bid.

On 19 January 2017, Geoex Ltd. (Geoex) launched a takeover bid to acquire all of the shares in MultiClient Geophysical ASA (MCG), a seismic company listed on Oslo Axess. On, 24 January 2017, Spectrum ASA (Spectrum), a seismic company listed on Oslo Børs, announced a competing takeover bid at a price of NOK 1.25 per shares.

Hamburg – The largest solar park in the Netherlands, Sunport Delfzijl, opened today. It belongs to the German WIRCON Group, a project developer and energy service provider operating under the WIRSOL brand. The 30 hectare solar park is equipped with 123,000 solar panels and located near the port of Delfzijl, in the north of the Netherlands. The photovoltaic plant produces enough electricity to supply the equivalent of around 7,500 households. The project was completed in less than one year.

With a team led by capital market lawyer Dr. Thorsten Kuthe, partner at the Cologne office, Heuking Kühn Lüer Wojtek advised 7C Solarparken AG on a capital increase and a convertible bond issue.
 
The capital increase is made against cash contributions in exclusion of shareholders' subscription rights. The issue price per share is EUR 2.30. 7C Solarparken intends to use the funds from the capital increase of some EUR 1.7 million to continue its growth path and to sustainably strengthen its solid equity ratio.