Hogan Lovells advises Prax on sale of its UK North Sea upstream oil and gas business to Serica

That business includes Prax’s operated interest in the Lancaster oil and gas field, and Prax’s agreements with TotalEnergies and One-Dyas to acquire further UK North Sea upstream oil and gas assets.  Hogan Lovells also acted as lead legal counsel to Prax on those acquisitions.    

The Hogan Lovells team was led by London-based energy M&A partner Alastair Young and Restructuring and Special Situations partner James Maltby, with support from our wider full-service team including partner Philip Harle (Tax), senior associates Scott Prior (M&A), Freddie Doust (Restructuring and Special Situations) and Adela Komorowska (Tax), associates William Wong, Akhil Parekh, Ben Littlewood (all M&A), and David Antrobus (Restructuring and Special Situations) and trainee solicitor Adam Barratt (M&A).

Commenting on the transaction, partners Alastair Young and James Maltby said: “It has been our pleasure to advise the company and the administrators on this sale.  This was a highly complex transaction, showcasing our oil and gas and insolvency and restructuring expertise and the strength of our fully integrated specialist teams.”