LONDON – BRACEWELL (UK) LLP represented Viaro Energy and its operating subsidiary RockRose Energy Ltd in connection with two parallel transactions to acquire Southern North Sea gas assets and interests in the Bacton Gas Processing Terminal from Shell UK Limited and Esso Exploration and Production UK Limited.
Under the transactions, Viaro Energy, through its operating subsidiary, will acquire Shell and Esso’s 100 percent interest in a portfolio of ten producing offshore assets, 83.2 percent interest in an additional producing asset and 50 percent interest in an exploration field, as well as related pipeline assets and ownership of the Bacton Gas Processing Terminal. Upon completion of the transactions, which remain subject to customary conditions including regulatory approvals, RockRose will also transition to an operatorship role.
The transactions were led by Partner Darren Spalding and Senior Associate Adam Quigley.
Darren Spalding, co-chair of Bracewell’s oil and gas practice, commented: “We are delighted to have advised Viaro Energy in relation to these landmark transactions. They present Viaro Energy with a great opportunity to invest and bring new life to these significant assets. The acquisition of the Bacton Gas Processing Terminal also gives Viaro Energy the potential to play an important role in the deployment of clean technologies, such as carbon capture and storage and hydrogen production, as part of the energy transition.”
Bracewell lawyers involved in the transactions include:
Partners: Darren Spalding and Nicholas Neuberger
Senior Associates: Adam Quigley, Kirsty Delaney and Danielle Altink
Associates: Alexandra Smith and Rachel Strickland
