Ashurst advised Jemena on the acquisition of the Roma North gas processing facility in Queensland from Senex Energy.
The $50m deal also involved the development of a gas-processing and transportation agreement. Under the agreement with an initial term of 21 years with an option to extend for another 11 years, Jemena will process and pipe natural gas from Senex Energy’s developments in the Western Surat Basin to market under the processing and transport agreement, Ashurst said.
The acquisition took on the form of a project development agreement because of the transaction’s timing. The negotiations occurred while the construction of the Roma North gas-processing facility and pipeline by Senex Energy was ongoing. The dealmakers also handled the acquisition of the shares in the target entity, Ashurst said.
The global firm’s team was headed by partner Paul Newman, who was supported by partners Caroline Ammundsen, Tony Denholder, Justin Jones, Damian Salsbury, and Ratha Nabanidham; counsels Eliza Blandford and Lucy Bretherton; senior associates Carol Kahler, Tristan Shepherd, and Harry Stone; and associates Ivan Biros, Danielle Davidson, Connor Davies, Matthew Harper, and Chris Lamont.