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Oil and Gas M&A: A Practical Handbook, 2nd Edition

Oil and Gas M&A: A Practical Handbook, 2nd Edition

Author: Marc Hammerson; John LaMaster
Publisher: Globe Law and Business
ISBN: 9781787421486

Previous Edition ISBN: 9781909416338
Published In: July 2018
Format: Hardback , 301 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

List Price: HKD 2,080.00

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Description
Contents
Author

Details

In 2012 oil and gas companies completed 1,600 M&A transactions with an aggregate value of $400 billion. Deals involved mainly upstream assets. The sector has seen continued activity despite the economic downturn. This is an industry which continues to be acquisitive.

Activity is not undertaken exclusively by oil majors. A feature of the industry has always been its variety of participants, ranging from integrated energy conglomerates to entrepreneurial frontier explorers. New entrants include increasingly expansionist and internationalist state-owned oil companies, financial investors, diversifying service contractors and oil traders. With the growth of specialist stock markets, junior and independent oil companies are better able to raise acquisition finance than previously. As the industry matures and fields deplete, companies specialising in end-of-life reservoirs are filling the space left as oil majors go in search of new opportunities.

The types of transaction are also numerous. As well as corporate takeovers, transactions are completed by a variety of different deal structures, including share and asset sales and farm-in agreements. The choice of structure is important and, as well as providing chapters on each type of acquisition method, this book includes an analysis on the underlying structuring decisions.

This new title, which is authored by specialists in their fields, provides a practical guide to the M&A process in the upstream industry. In addition to providing chapters on acquisition structures, it covers a number of ancillary areas, such as valuations, financing, tax and accounting. Decommissioning liability – an increasingly important factor for both buyers and sellers – is also considered in an M&A context.

This book will be a useful practical guide to different professionals – lawyers, bankers, financial advisers, business executives, accountants and tax advisers – participating in this process.

Preface Marc Hammerson John C LaMaster Akin Gump Strauss Hauer & Feld LLP

Introduction

Valuation Christopher R K Moore Moyes & Co

Structuring the transaction Jubilee Easo Eversheds Joanna Kay Andrews Kurth

Share purchase agreements Alexander Reid Holman Fenwick

Asset sale and purchase agreements John C LaMaster Akin Gump Strauss Hauer & Feld LLP

Public takeovers David Lewis Clifford Chance LLP

Due diligence and warranties Marc Hammerson Caroline-Lucy Moran Akin Gump Strauss Hauer & Feld LLP

Tax Robert Hodges EY

Finance and tax due diligence Chris Searle BDO LLP

Anti-corruption Tamer Soliman Mayer Brown

Decommissioning in an M&A context Paula Kidd Norman Wisely CMS

Financing oil and gas M&A transactions Robert Aulsebrook Akin Gump Strauss Hauer & Feld LLP

Private equity investment in the oil and gas industry Maarten Overmars Simon Tysoe David Ziyambi

Dealing with material adverse change John C LaMaster Akin Gump Strauss Hauer & Feld LLP

Environmental Julie Vaughan Herbert Smith Freehills

Dispute resolution Mark Beeley Vinson & Elkins

Competition Andrew Hockley Berwin Leighton Paisner

Consulting editor(s): Marc Hammerson and John LaMaster, Akin Gump Strauss Hauer & Feld LLP

Contributing firm	Name
Akin Gump Strauss Hauer & Feld LLP	John C LaMaster
Akin Gump Strauss Hauer & Feld LLP	Marc Hammerson

Contributors

Contributing firm	Name
Akin Gump Strauss Hauer & Feld LLP	Caroline-Lucy Moran
Akin Gump Strauss Hauer & Feld LLP	Robert Aulsebrook
BDO LLP	Chris Searle
Bryan Cave Leighton Paisner LLP	Andrew Hockley
Bryan Cave Leighton Paisner LLP	Paul Culliford
Clifford Chance LLP	David Lewis
Clifford Chance LLP	Mary Bartle
CMS Cameron McKenna Nabarro Olswang LLP	Norman Wisely
CMS Cameron McKenna Nabarro Olswang LLP	Paula Kidd
Eversheds Sutherland	Jubilee Easo
GMP FirstEnergy	Mark W Llamas
GMP FirstEnergy	Paul Bannister
Herbert Smith Freehills	Julie Vaughan
HFW	Alexander Reid
Latham & Watkins	David Ziyambi
	Maarten Overmars
	Simon Tysoe
Mayer Brown	Tamer A Soliman
Moyes & Co Inc	Christopher R K Moore
Orrick, Herrington & Sutcliffe (UK) LLP	Joanna Kay
Orrick, Herrington & Sutcliffe (UK) LLP	Mark Beeley