White & Case Advises on the up to US$1.25 Billion Financing for the Shenandoah Field

Global law firm White & Case LLP has advised a syndicate of leading commercial and institutional lenders, led by Société Générale, in the up to US$1.25 billion financing for the development of the deepwater Shenandoah field in the US Gulf of Mexico. The Sponsors for the Shenandoah project are Beacon Offshore Energy, Navitas Petroleum and Houston Energy Quantum.

The deepwater Shenandoah field is situated within the Walker Ridge area of the Gulf of Mexico in an average water depth of approximately 1,800 meters. The first oil production from the Shenandoah deepwater oil field is expected in 2024, and it is anticipated to become a large oil & gas–producing asset in the US Gulf of Mexico. The transaction structure is unusually complex, given multiple borrowers, a development period in excess of three years, deep water location of the field and the requirement for offshore gathering and transportation infrastructure as well as onshore processing facilities. 

The White & Case team was led by counsel Fern Han and partners Mark Holmes and Chris Richardson (all in Houston). The team also included partners Taylor Pullins and Ryan Hopkins, counsel Mike Rodgers and associates Chantal Carriere, Alysha Alibhai and Forrest Brown (all in Houston); partner Elizabeth Feld and associates Rhys Bortignon, Jia Ying, Viktor Braun and Rebecca Hughes (all in New York); counsel Paul Harrington and associates Miles Tonkin and Radhika Wason (all in London).

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