On Acquisition of Southern North Sea Gas Assets.
BRACEWELL (UK) LLPÂ 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.
