Clifford Chance has advised Chrysaor, the UK’s leading independent North Sea oil and gas group, on its proposed all share merger with Premier Oil plc through a reverse takeover. The transaction, which is subject to regulatory approvals and approval by Premier’s shareholders and creditors, will create the largest independent oil and gas company listed on the London Stock Exchange.

Chrysaor is backed by Harbour Energy, a global energy investor founded and managed by EIG Global Energy Partners.

The Clifford Chance team was led by Corporate partners Steven Fox and Graham Phillips, with support from Restructuring partners Philip Hertz and Melissa Coakley, Finance partner Simon Williams, and Capital Markets partner Simon Thomas. They were supported by Corporate associates Olivia Higgs, Monica Gemes, Gregory Scott, Daniel Mutisya and Jo En Low, Finance associate Keith Hauck, Restructuring associates Sarah Jane O’Leary and Lewis Cymbal, and Capital Markets associate James Spencer.

The cross-practice team also comprised Employment partner Michael Crossan, Pensions partner Clare Hoxey, Employee Incentives partner Sonia Gilbert, Tax partner Nick Mace with support from Robert Sharpe, and Antitrust partner Greg Olsen with support from Chandralekha Ghosh.

The transaction follows Clifford Chance advising Chrysaor on the acquisition of ConocoPhillips UK last year.

Clifford Chance’s success in advising on high-value, complex transactions in the sector is reflected in the latest Legal 500 UK rankings, with the firm being ranked in Tier 1 for Oil & Gas.