Upstream oil and gas

Michelet & Co’s lawyers have long in-depth experience with the global upstream oil and gas business. We have been involved in the oil and gas sectors of more than 40 countries world wide.

Michelet & Co acts for oil companies, infrastructure owners, suppliers, national and international authorities, investors and financiers as well as investment banks and intermediaries, on all legal and strategic matters related to upstream oil and gas.  We regularly assist in complex development projects, corporate and asset transactions, equity and debt financings, restructurings and a range of operational and structural matters.

Within M&A, our lawyers have been involved in most of the sizeable corporate and asset transactions in Norway during the last years. This has included acting both on the sale and buy side and for Norwegian oil companies, international NOCs and majors, as well as global utilities and several of the world’s largest funds investing in the oil and gas sector. We know how to structure a transaction from an efficient tax perspective and in order to accomplish a favourable regulatory approval process.

Our team is typically instructed in debt financing transactions which require a complex structuring or where the security arrangements are cross-border and multi-jurisdictional. In particular this is true for bond loan issues, where our team members have been involved in bond issues and issues related to such loans connected to the  Nordic countries, the United States, the United Kingdom and the Channel Islands, the Caribbean, several jurisdictions in Africa, Brazil, Bermuda, the Caymans, as well as Singapore, China and certain other Asian countries.

With respect to equity transactions, we have acted on a substantial number of international private equity investments into Norwegian oil and gas companies, acting for global investment funds and the target companies.  For international investment funds we provide clear, timely and innovative answers related to the Norwegian regulatory and tax regulations. We are able to pinpoint important areas for due diligence and we know the documentation and market practice from our involvement on a number of similar transactions. We also have substantial experience from Rule 144A and Regulation D equity offerings under US laws, and we assist issuers and their managers on all aspects of equity transactions, including due diligence, prospectus requirements and prospectus filings, corporate law matters and underwriting arrangements. Our lawyers have also acted as an advisor on several public take-over bids, acting for target companies, bidders and financiers.

We regularly act as corporate counsel for publicly listed oil and gas companies, providing legal and strategic advice related to corporate and securities law, including issues concerning disclosure obligations, trading in financial instruments and stock exchange rules and regulations. In addition, our lawyers are also from time to time requested to chair general meetings of publicly listed companies.

Due to our combination of commercial understanding and legal expertise, the team at Michelet & Co have been involved in the restructuring of several private and public oil and gas companies, acting for debtors, creditors, security holders and financial advisers. Our practice include experience from chapter 11 proceedings and debtor-in-possession financings as well as chapter 7 proceedings under US law.

On operational and regulatory matters we advise on all aspects from the entry to the UK or Norway, through all the operational matters an oil and gas company will face through to the decommissioning and exit from their operations. Whether it relates to detailed questions on the understanding of a specific provision in statutes and regulations, a broader policy or strategic question involving governmental authorities, or a contract issue with a supplier, it is very likely that we have seen the issue before and can provide you with efficient and to-the-point advice.

For many years, our lawyers have been advising governments and national oil companies in oil and gas countries in Europe, Africa, Asia, South America and the Middle East on petroleum legislation, concession agreements, production sharing agreements and organisation of NOCs.