White & Case Advises Occidental Petroleum on Net Power's US$1.5 Billion Business Combination with Rice Acquisition Corp. II

Global law firm White & Case LLP has advised Occidental Petroleum (NYSE: OXY), NET Power LLC's largest shareholder, on NET Power's business combination with Rice Acquisition Corp. II (NYSE: RONI), a special purpose acquisition company. The combined company will operate as NET Power Inc., and has an initial enterprise value of approximately US$1.5 billion. The transaction closed on June 9, 2023.

The White & Case team was led by partners A.J. Ericksen and Emery Choi (both in Houston). The team also included Tax partner Scott Fryman and associate Adriana Zhan (both in New York); Technology Transactions partner Burr Eckstut (New York) and associate Nashel Jung (New York); Employment, Compensation & Benefits partner Victoria Rosamond (New York); Capital Markets associate Chris Carreon; and Project Development and Finance associate Clint Farha (both in Houston). Law clerk Stanley Yu also assisted on the matter.

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