David Murray
Biography
Overview
David is an associate in the Project Development and Finance Group based in our Houston office (on secondment from the Firm's London office). David advises clients on energy and natural resources related matters, including project development and financings, acquisitions and divestments, joint ventures, and related transactional matters.
Prior to joining the Firm, David worked in-house at Equinor and the energy practice of another major law firm based in London.
Experience
Representative experience includes:
Upstream Oil & Gas
Representation of Southern Gas Corridor CJSC (SGC) on the sale and purchase agreement with MVM Group, an energy company owned by the Republic of Hungary, for the sale of a 5 percent stake in the Production Sharing Agreement for Shah Deniz offshore gas-condensate field and a 4 percent stake in Azerbaijan Gas Supply Company Limited (AGSC), the special-purpose vehicle established for the marketing and sale of natural gas produced from Shah Deniz gas-condensate field.
Representation of Etu Energias (formerly Somoil), Angola's largest private energy company, on its c. US$800 million agreement to acquire the upstream Angolan assets of Portuguese multinational energy company, Galp.
Representation of TotalEnergies on its c. US$900m acquisition of a controlling stake from OMV in a joint venture group holding key upstream gas interests in Malaysia with highly-integrated gas handling, processing and offtake arrangements, and strategic significance for the energy transition, with associated interests in Australia, New Zealand and Mexico.
Representation of TotalEnergies on the signing of an agreement with Sapura Upstream Assets to acquire the remaining 50 percent interest in Malaysian independent gas producer and operator SapuraOMV Upstream Sdn (SapuraOMV) for US$530 million, subject to closing adjustments.
Representation of a lender group on the US$130 million acquisition financing and restructuring of company holding a minority interest in an upstream offshore oil and gas field in West Africa.
Representation of Etu Energias (formerly Somoil) on its US$300 million share acquisition of Angola Block 14 B.V. from TotalEnergies and INPEX, which owns non-operating participating interests in Block 14 and the 14K unitised field, located offshore Cabinda province, Angola, together with associated acquisition financing and offtake arrangements.
Representation of Shell International in connection with divestment of its assets in Nigeria.
Representation of a lender group on the US$340,000,000 refinancing of an upstream oil and gas company's offshore operating interests in Brazil.
Representation of International Financial Corporation (IFC) in connection with its financing of the IEFCL nitrogenous fertilizer complex, located in Nigeria.
Representation of State Oil Company of the Republic of Azerbaijan (SOCAR) on the sale of a 15% participating interest in the Absheron gas-condensate field (located in the Azerbaijani sector of the Caspian Sea) to the Abu Dhabi National Oil Company.
Representation of Hess Corporation on its sale of the entire share capital of Hess Denmark ApS, that owns Danish North Sea exploration and production assets, to INEOS E&P A/S for cash consideration of US$150 million.
Representation of UKCS independent E&P company's bondholders in relation to restructuring arrangements.
Representation of Kumul Petroleum Holdings Limited on the US$320 million prepayment agreement and LNG sale and purchase agreement in support of the acquisition of an additional participating interest in the "PNG LNG" liquefied natural gas project in Papua New Guinea.
Representation of a major European multi-national oil company on structuring and development of its upstream activities in Namibia.
Representation of Seplat Energy Plc, a leading Nigerian energy company listed on the Nigerian Exchange and the London Stock Exchange, on the approx. US$1.5 billion acquisition of the entire offshore shallow water business of ExxonMobil in Nigeria.
Representation of an independent Nigerian purchaser regarding its proposed acquisition of producing oil & gas assets from IOC sellers, in onshore Nigeria.
Representation of Trafigura regarding its provision of a US$90 million acquisition finance loan facility and associated offtake arrangements in support of Panoro Energy's share purchase of Tullow Oil's non-operating interests in producing assets located in offshore Equatorial Guinea and Gabon.*
Representation of an international trading house on its partial (majority) sale to a PE buyer of an upstream oil and gas interest in offshore Azerbaijan, including extensive negotiations of the SPA, option agreement and SHA for the newly-incorporated JVC.*
Representation of an international NOC on its bid for the acquisition of non-operating license interests in deep offshore Nigeria (i.e. OML 118 (the Bonga field), the unitised BSWA field, and OML 135).*
Representation of an IOC on due diligence (including preparation of DDQs and DDR, and related SPA provisions) regarding its proposed purchase of (deep offshore) operational licence interests in a West African jurisdiction.*
Representation of TotalEnergies regarding its planned purchase of Tullow's entire stake in the Lake Albert Development Project in Uganda (US$575 million in cash plus post first oil contingent payments).*
Representation of an IOC on its intragroup restructuring and transfer of licence interests in onshore gas fields (Algeria), including supporting negotiations with Sonatrach (Algerian NOC) and international JV partners.*
Midstream and Downstream Oil & Gas
Representation of an international energy company in relation to its role in a cross-border crude oil pipeline, and associated upstream and midstream interests.
Representation of Brass Fertilizer and Petrochemical Company in connection with the long-term sale and purchase agreements for offtake of petrochemical products in Nigeria.
Representation of a West African government in connection with restructuring and renegotiation of power supply and offtake arrangements with several project-financed IPPs.
Representation of Saudi Aramco as procurer, on the structuring, tendering, development and financing of all five of its residential camp procurements to be developed on a build, own, operate and transfer (BOOT) basis.
Representation of Saudi Aramco on the structuring, tendering, development and financing of the Zuluf water treatment project for injection into offshore oil reservoirs, located in the Kingdom of Saudi Arabia.
Representation of an ECA lender in relation to the proposed financing of an oil refinery in Central Asia.
Representation of a multinational petrochemicals company regarding the development of its supply terms.
Representation of the marketing and trading division of a multinational energy company on the consolidation of procurement and marketing of midstream feedstock and refinery products within the broader corporate group.*
Representation of an energy trading company on the negotiation of power-procurement deals with independent UK power producers and gas suppliers, including a review of existing infrastructure and contractual arrangements.*
Advising (in-house) on offshore and onshore gas and oil transportation and storage agreements, and LNG transportation and regasification agreements, including with respect to price reopener provisions, in the UK, Norway, Germany, France and Nigeria.*
Advising (in-house) on international term and spot LNG sale and purchase agreements on a DES and FOB basis.*
Advising (in-house) on transactions under energy commodity (gas, electricity) trading agreements (including GTMA, NBP, Beach 2000, ISDA, EFET model agreements) as well as under tailored spot, forward, option and master netting agreements, and long form confirmations.*
Commodity-based finance
Representation of an international trading house on its participation in an existing US$450 million pre-development stage RBL structure regarding offshore oil and gas interests in a West African jurisdiction, including drafting multiple iterations of the term sheet and applicable proposed agreements, and advising on alternative funding and offtake structures.*
Advising (in-house) on participation in trade finance structures and related offtake arrangements, including a high-yield Nordic bond issuance (regarding Angolan assets), and a USD800m term loan facility and forward-sale structure (regarding a basket of Nigerian assets).*
Renewables and Power
Representation of a West African government in connection with restructuring and renegotiation of power supply and offtake arrangements with several project-financed IPPs.
Representation of Saudi Aramco on the development of the Zuluf water treatment project.
Representation of Enbridge on the development with RWE and Macquarie/GIG of the Rampion Extension offshore wind farm in the UK (and tie-in to the existing Rampion field), including extensive negotiations of the associated SHA and other project documents.*
Representation of a Caribbean government and its state-owned energy utility in negotiations with an IOC-led consortium regarding parallel development of the country's first commercial scale renewable energy projects (i.e. 92MW and 20MW solar PV plants), including negotiation of the PPAs and implementation agreements, and related project finance considerations.*
Representation of a UK corporate on negotiation of a synthetic corporate PPA with a solar energy infrastructure investor relating to solar PV project.*
Negotiating, drafting and advising on commercial and regulatory arrangements (in-house) for Equinor's bottom-fixed and floating offshore wind portfolio in the UK, and strategic equity investments in offshore and onshore wind and solar PV projects (and related offtake arrangements) in the Netherlands, Norway, Japan, and Argentina.*
*Experience prior to joining White & Case
