IFLR1000

Trident Energy acquisition of Pampo and Enchova oil fields

30/7/2019
Acquisition finance, Reserve-based lending (RBL), Asset acquisition
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$ 1 billion

Announced

30/7/2019

Overview:

  • Trident Energy is acquiring the Pampo and Enchova oil fields from Petrobras.
  • The acquisition was partially financed with the first reserve-based lending facility in Brazil's upstream oil and gas space.
  • Sumitomo Mitsui Banking Corporation, ING Bank and Crédit Agricole Corporate and Investment Bank acted as initial mandated lead arrangers.
  • The acquisition was part of Petrobras's divestment plan.
  • The Enchova fields included the Marimba, Enchova, Enchova Oeste, Bonito, Bicudo and Piraúna fields and the Pampo fields included the Badejo, Pampo, Linguado and Trilha fields. 

Rani Mehta - Latin America Editor

Jurisdictions:

Brazil
United Kingdom

Deal types:

Acquisition finance
Reserve-based lending (RBL)
Asset acquisition

Practice area:

M&A

Industry sector:

Oil and gas

Firms:
Herbert Smith Freehills

Party: Trident Energy (Acquirer, Borrower)

Lawyers: Laura Hulett, Thomas Bethel

Machado Meyer Sendacz e Opice Advogados

Party: Petrobras (Seller)

Lawyers: Arthur B Penteado, Daniel Szyfman, Diana Henne

Mattos Filho Veiga Filho Marrey Jr & Quiroga Advogados

Party: Sumitomo Mitsui Banking Corporation (Mandated lead arranger)

Party: ING Bank (Mandated lead arranger)

Party: Crédit Agricole (Mandated lead arranger)

Lawyers: Giovani Loss, Pablo Sorj

Pinheiro Neto Advogados

Party: Trident Energy (Acquirer, Borrower)

Lawyer: Francisco Werneck Maranhão

Walkers

Party: Trident Energy (Acquirer, Borrower)

White & Case

Party: Sumitomo Mitsui Banking Corporation (Mandated lead arranger)

Party: ING Bank (Mandated lead arranger)

Party: Crédit Agricole (Mandated lead arranger)

Lawyers: Ingrid York, John Anderson, Mukund Dhar

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