Ogier acts on multi-million dollar Irish Stock Exchange listing

Friday 31 October 2014

Ogier in Jersey and the British Virgin Islands has advised an international oil and gas group on an issue of its $300,000,000 notes listing on the Irish Stock Exchange's Global Exchange Market

The notes were issued by Seven Energy's subsidiary Seven Energy Finance Limited and are guaranteed by other subsidiaries of Seven Energy.

Ogier's British Virgin Islands (BVI) office acted with the London office of US firm Latham & Watkins as legal counsel to Seven Energy Finance Limited. The firm’s local office advised on matters of Jersey law as applicable to the transaction. Ray Wearmouth and Michael Killourhy led the BVI team with Christopher Newton assisting. Ogier's Jersey team was led by Bruce MacNeil with Anna Cochrane assisting.

Energy is an indigenous African oil and gas exploration, development and production company with a focus on supplying gas to the domestic market. In the six months ended 30 June 2014, Seven Energy generated revenues of $165.4 million.

The business began in 2004 as a division of Weatherford International, the New York Stock Exchange listed oil services company. The division was sold by Weatherford International in 2007 and merged with Nigeria's Exoro Energy to establish an independent company. Today, Seven Energy's equity holders include a number of blue-chip international institutional and strategic equity investors.