Recent Work

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Spindletop has recently acted in regards to the following:

  • Gulf Keystone:  Spindletop was engaged to advise Memery Crystal client, Gulf Keystone, in regards to amending and restating the ‘Shaikan’ Production Sharing Contract governing operations on the Shaikan oil field, Kurdistan.

 

  • Jersey Oil and Gas PLC:  Spindletop has advised UK based Jersey on two acquisitions of interests in UKCS oil and gas fields – one  from the Administrators acting on behalf of an insolvent Seller and the other from ExxonMobil – both involving creative solutions for decommissioning.  Spindletop also advised Jersey on the farm-down of its interest in Licence P.2170 to Statoil and continues to advise in a quasi ‘in-house counsel’ capacity in regards to new acquisition opportunities.

 

  • Webster’s Drilling: Spindletop was engaged by Webster’s Drilling to provide advice in regards to the evaluation process routinely undertaken by upstream operators for RFPs issued in New Zealand.

 

  • New Zealand Petroleum & Minerals:  Spindletop was engaged to research the tools available to the regulator to encourage greater participation in the petroleum sector by Maori.  In doing so we summarised the differing approaches to investment in the petroleum sector, referencing numerous case studies from our international and domestic experience, and aspects of other petroleum regimes and ‘good industry practice’ that provided other tools not previously considered.  The full report can be found here Spindletop Report on the Opportunities for Maori Participation in the Petroleum Sector

 

 

  • Confidential FTSE 250 New Entrant:  We delivered a presentation in London to a potential new entrant covering the New Zealand petroleum regime and market opportunities.  Our report included:
    • an in depth analysis of the new country entry issues
    • the applicable petroleum legislation
    • native (Maori) title issues
    • a summary of the major producing fields, their owners and commercial dynamics
    • New Zealand’s gas hydrate potential
    • New Zealand’s EEZ potential
    • A summary of petroleum related infrastructure that was being marketed for sale at that time

 

  • Mighty River Power:  Spindletop was asked to provide advice to NZSX listed Mighty River Power on its geothermal drilling programme and, in particular, drilling rig sharing arrangements common in the oil and gas industry and on industry standard drilling contract terms

 

  • New Endeavour Resources:  Spindletop was instructed to consider sale and purchase terms, and associated documentation, for NER’s proposed acquisition of an exploration permit located in Taranaki.  In addition, we liaised with our contacts in the London financial markets in regards to funding and with contacts with international oil companies interested in offshore farm-out opportunities

 

  • Mosman Oil & Gas:  AIM listed Mosman approached Spindletop to assist in a re-draft of an AIPN model form JOA to reflect current practice, New Zealand conditions and certain aspects pertinent to the joint venture.  In addition, we advised on aspects relating to Mosman’s proposed acquisition of the Rimu and Kauri fields from Origin.

 

  • WHL Energy:  We advised ASX listed WHL Energy on the transfer of working interests in an English law JOA applying to an East Africa production sharing contract and drafted a settlement deed in regards to a dispute arising thereunder.

 

  • Ulster Energy:  We advised Ulster Energy Limited, a potential new entrant international oil company, in respect to the New Zealand petroleum regime applicable to the 2015 Block Offer process

 

  • AIPN: Sean Rush is New Zealand’s first resident member of the Association of International Petroleum Negotiator’s global Board of Directors.  In addition, he is a member of the committee that is reviewing the AIPN’s 2005 UUOA Model Form having negotiated UUOA’s in multiple jurisdictions and implemented equity redeterminations for operators and non-operators alike.  The committee will review the model form over 2016 and provide a re-draft and update of the guidelines.