About Jason
Jason Fox has almost 30 years of experience as an energy finance lawyer. He focuses on the upstream sector and has advised on over 150 Reserve Based Lending (RBL) financings, as well as numerous other financings in the wider energy sector.
Recent ranking publications acknowledged his deep knowledge and understanding of the energy finance sector. Jason Fox is the “guru of oil and gas bank financing” and “the king of reserve based lending,” Chambers UK (2018). He is “exceptionally experienced on reserve-based lending work for upstream oil and gas exploration,” Chambers UK (2016). “Jason Fox is ‘the go-to lawyer and first on the list when considering any new instruction. His professionalism, knowledge and experience are undoubted and delivered with personality and accessibility,’” IFLR 2016. “Jason Fox has ‘extraordinary credentials, he is the pre-eminent practitioner in reserve based financing,’” The Legal 500 United Kingdom (2016). “Practice head Jason Fox has ‘extraordinary credentials in reserve-based lending,’” The Legal 500 United Kingdom (2016).
Experience
Recent Notable Matters
Carlyle International Energy Partners — finance counsel in The Carlyle Group’s acquisition of Occidental’s entire onshore portfolio in Colombia for a total consideration of $825 million
Société Générale — up to $650 million borrowing base facility to Cobalt Energy provided by Société Générale, Credit Agricole and Commonwealth Bank of Australia, as a mandated lead arranger
Delek Energy L.P. — $1.75 billion financing for the development of the Leviathan Field, offshore Israel
DNB Bank, ING Bank and Natixis — $600 million acquisition financing to Siccar Point Energy Limited to acquire OMV (UK) Limited
EBRD — up to $80 million credit facility to Merlon Petroleum
FlowStream Commodities Limited — $200 million stream to Cairn Energy
Group of 25 lenders — $2.5 billion secured loan and letter of credit facility for Lundin Petroleum, based on oil and gas assets in France, Indonesia, Norway and The Netherlands; the transaction was coordinated by HSBC as documentation bank and BNP Paribas as facility agent and security trustee, along with 15 other lead arrangers
HSBC Bank plc — $100 million secured revolving credit facility for KrisEnergy, an independent upstream E&P company with a focus on Southeast Asia
BNP Paribas — $400 million senior secured credit facility to Ithaca Energy, an oil and gas exploration, development and production company active in the UK's Continental Shelf, as lead arranger
Lloyds Banking Group, BNP Paribas, Barclays Corporate, Royal Bank of Scotland plc, Bank of America Securities Limited and Crédit Agricole Corporate and Investment Bank — $900 million revolving facility for Enquest plc
Etablissements Maurel & Prom SA — up to $650 million revolving credit facility arranged by BNP Paribas, Crédit Agricole Corporate and Investment Bank, Natixis and Standard Chartered Bank
Neptune Energy Group Holdings Limited — debt financing aspects of the $3.9 billion acquisition of a majority stake in ENGIE E&P International
ING Bank N.V. and a syndicate of five lenders — $340 million borrowing base facility for Oranje-Nassau Energie, based on oil and gas assets in the U.K., Netherlands and Gabon
Petroceltic plc — $500 million financing against the group's resources in Egypt, Italy and Bulgaria and contingent resources in Algeria
Petrogas International E&P Coöperatief U.A. — $150 million secured borrowing base facility arranged by ING Bank N.V. relating to Petrogas' acquisition of certain assets located in the Netherlands
Seplat Petroleum Development Company Plc — $700 million Term Facility and $300 million Revolving Facility
The Bank of Nova Scotia — up to $500 million borrowing base facility for Amerisur Resources plc
Royal Bank of Scotland, BNP Paribas, IFC and other lenders — U.K. market's largest borrowing base facility, $3.5 billion senior and junior secured credit facilities for Tullow Oil