Case study
Gneiss acts as Financial Advisor to Sound Energy plc on £4 million bond instrument
Gneiss Energy advises the Prax Group on its acquisition of Hurricane Energy for a consideration of up to £249 million.
Gneiss Energy has successfully supported the Prax Group on its acquisition of Hurricane Energy Plc.
The acquisition consists of:
The deal represents the first strategic step for Prax in building a sizeable upstream business in the North Sea, complementing its midstream and downstream activities to create an integrated business. Hurricane provides a platform from which Prax's upstream division will grow.
The link to the scheme announcement is here.
The acquisition consists of:
- dividends of £103 million (5.19p/share);
- cash consideration of £17 million (0.83p/share); and
- Deferred Consideration Unit of up to £129 million (6.48p/share), based on future revenue generated by Hurricane.
The deal represents the first strategic step for Prax in building a sizeable upstream business in the North Sea, complementing its midstream and downstream activities to create an integrated business. Hurricane provides a platform from which Prax's upstream division will grow.
The link to the scheme announcement is here.
Project team
Jon Fitzpatrick
Managing Director
Paul Weidman
Head of Oil and Gas
Our Work
Equity Raise
Financial Adviser and Placing Agent
£4 million
2022
Oil and Gas
Financial adviser and placing agent to Sound Energy plc on its successful £4 million placing and subscription.
2022
Oil and Gas
Equity Raise
Transaction Adviser
A$91 million
2022
Oil and Gas
Transaction Adviser to Renergen on an investment of R1 billion (A$91 million) from Central Energy Fund into Tetra4 Proprietary Limited, Renergen's subsidiary holding the Virginia Gas Project onshore South Africa.
2022
Oil and Gas
Equity Raise
Financial Adviser and Placing Agent
£7.3 million
2022
Oil and Gas
Financial Adviser and Placing Agent to Challenger Energy Group Plc on its US$23 million financial restructuring and £7.3 million placing.
2022
Oil and Gas
Equity Raise
Financial Adviser
C$11 million
2022
Oil and Gas
Financial Adviser to Petro-Victory Energy Corp. on its C$10.9 million private placement.
2022
Oil and Gas
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