23 April 2019
- Graham Phillips, Simon Williams, Laurence Feeny, Josh Baxter, Keith Hauck, Mike Crossan, Clare Hoxey, Sarah McAleer, Sonia Gilbert, Lauren Evans, David Harkness, Lina le Roux, Greg Olsen, Chandralekha Ghosh, André Duminy
Clifford Chance advises Chrysaor on the acquisition of ConocoPhillips UK for US$2.675bn
Clifford Chance has advised Chrysaor, a leading UK oil & gas independent, on its acquisition of ConocoPhillips’ UK business ("ConocoPhillips UK") for $2.675bn. The acquisition will make Chrysaor one of the largest net oil and gas producers in the UK North Sea and accelerates its strategy to become one of Europe’s leading independent, full cycle E&P companies. The transaction is subject to customary conditions and is expected to complete in Q4 2019.
Chrysaor is backed by Harbour Energy, a permanent capital energy investment company managed by EIG Global Energy Partners. Chrysaor will fund the acquisition from existing cash resources and an upsized US$3 billion reserve based lending debt facility.
The Clifford Chance team was led by Corporate partner Graham Phillips (London) and Finance partner Simon Williams (London), with support from Corporate associates Laurence Feeny and Josh Baxter and Finance associate Keith Hauck. The cross-practice team in London also comprised Employment partner Michael Crossan with support from Stephanie Ball, Pensions partners Clare Hoxey and Sarah McAleer, Employee Incentives partner Sonia Gilbert with support from Lauren Evans, Tax partner David Harkness with support from Lina Le Roux, Antitrust partner Greg Olsen with support from Chandralekha Ghosh, and TMT partner André Duminy with support from Daryl Cox.
Clifford Chance's success in advising on high-value, complex transactions in the sector is reflected in the latest Chambers Global and Legal 500 rankings, with the firm being ranked in Tier 1 for Oil & Gas in both directories.