Ashurst is advising long-standing client Dyas UK Limited in relation to its acquisition of certain oil & gas interests in the North Sea from Cairn Energy. The acquisition is structured as a put and call agreement in relation to Dyas acquiring a 6% interest in two licences known as Mariner West, and an 80% interest in a licence known as Mermaid. The consideration consists of an initial cash payment to Cairn Energy of US$43 million, together with an amount equal to Cairn's expenditure on the licence interests since 31 December 2012.
 
The Ashurst team was led by Nick Williamson (Corporate energy partner), with assistance from Sian Williams (Corporate senior associate), Tim Gummer (tax associate) and Denva Poyntz (ETI associate).