Busy year in deals for Addleshaw Goddard’s energy team
Addleshaw Goddard’s energy team in Scotland has had its strongest year-end to-date, with deal activity reaching £1 billion in the last month.
The firm highlighted the recent acquisition of interests in the Cairn and Kraken oilfields by Waldorf Production.
Lawyers predict a buoyant start to 2022, with high demand for quality United Kingdom Continental Shelf assets likely to continue.
David McEwing, co-head of energy and utilities, said: “The combined efforts of our energy team have culminated in our strongest year-end to date, with a record value of deal activity confirmed.
“We are seeing more than green shoots in supply chain deals as we come out of the shadow of Covid. Though there is a far stronger pipeline of M&A [merger and acquisition] activity, Covid still has the potential to disrupt the market, so we must act cautiously.
“Demand across the energy spectrum will continue throughout the transition period, as the UK continues to operate at a deficit between production and consumption, meaning that the country will rely on imports from abroad.”