Surrey-based energy boutique LXL and US firm Morgan Lewis have advised on the $898m sale of Newfield Exploration’s Malaysian offshore oil and gas interests.
LXL, a boutique energy firm run by former Clifford Chance energy head Alan Jones, advised buyer SapuraKencana Petroleum on the deal after pitching for the work. The oil and gas group is understood to have beat 40 other global businesses to win the bid.
Jones and LXL energy partner Giulia Carloni were the sole legal advisers to the buyer, facing Newfield’s adviser Morgan Lewis. The US firm fielded a team led by Houston-based energy partner David Asmus and including London-based energy partner Matthew Kidwell.
The Texas-based group is understood to have sold its Malaysian businesses as part of a wider strategy to focus on the US. The deal was signed last Tuesday.
There have been a number of notable energy deals in recent weeks. Herbert Smith Freehills (HSF) and Slaughter and May recently landed lead roles on French Energy company EDF’s investment for Hinkley Point C nuclear project (21 October 2013).