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Shell invests in Aussie coal seam gas sector
Shell has completed its first investment in the Australian c
Lawyers Weekly
As part of the agreement, Shell will acquire 30 per cent of Arrow's Australian upstream tenements, and 10 per cent of Arrow's international operations for a total of about US$700 million (AU $1.1 billion).
The transaction has generated work for a number of law firms. Allens Arthur Robinson acted as the primary advisor for Shell, while Mallesons Stephen Jaques advised Arrow on the transaction generally. HopgoodGanim lawyers advised Arrow on operational aspects associated with the transaction, including Arrow's joint venture arrangements with AGL.
HopgoodGanim and Freehills advised Arrow and AGL respectively in relation to the agreement to sell a 30 per cent interest in the joint venture arrangements to Shell. TSMP Law Corporation acted as an agent for Allens, providing advice on
Brisbane-based Partners Chelsey Evans and Andrew Knox led the Allens teams from
"Allens was very pleased to advise longstanding client Shell in connection with its first investment in the Australian coal seam gas sector - working with their team based in Australia, The Netherlands, Singapore and the USA," Evans said.
According to Evans, the resource and energy sector is bucking the downward trend in M&A activity, and will continue to do so for the foreseeable future;
"Over the last 12 months there has been an unprecedented level of investment and M&A activity in this sector and there is no sign of that activity stopping anytime soon," he said.
- Laura MacIntyre
