The oilfield services industry continues to consolidate given low oil prices and Norton Rose Fulbright US is benefiting from the work.
Lawyers from the firm’s Houston office advised Tesco Corp. on its $216 million purchase by Nabors Industries, a deal that was announced Monday, Aug. 14.
Leading the deal team was Houston partner Brian Fenske, who is chair of the firm’s corporate, M&A and securities practices for Houston, Denver and Los Angeles and co-chair of the U.S. capital markets and securities practices.
Fenske was assisted by corporate associates Trevor Pinkerton, Mark Hamrick and Rishika Sengupta in Houston; tax partners Jack Allender (Houston) and Michael Flamenbaum (New York); benefits senior counsel Ron Adzgery in Houston; and competition partner Dan Wellington and associate Luke McFarland, both in Washington, D.C.
Lawyers from Norton Rose Fulbright’s Canadian and European offices also are working on the deal given its international implications, including Jamie Gagner, Rashi Sengar, Kirsty Sklar, Felix Haspel, Chi Iliya-Ndule, Darren Hueppelsheuser and Rujuta Patel in Canada and Christian Filippitsch in Brussels.
Tesco’s general counsel is Brian T. Kelly, who at one time practiced at Locke Lord.
Fenske said the firm became Tesco’s primary outside counsel two years ago because of its ability to offer “seamless support” in Houston, where the company is headquartered, and Canada, where it’s incorporated (the firm worked on a $49 million equity offering for Tesco last summer).
JP Morgan provided outside financial advice to Tesco, including bankers Richard Barker, Guy Sirkes and Kirk Sisco in Houston.
Nabors used Milbank Tweed Hadley & McCloy with a team led by Scott Golenbock out of New York. Nabors’ general counsel is Julia Wright, who previously practiced at Vinson & Elkins and Baker & McKenzie.
Intrepid Financial Partners, which has offices in Houston and New York, provided financial advice to Nabors with a group that included Ben Messler and Karim Rashid in Houston.