Thommessen has acted as legal counsel for BW Energy Limited and its shareholders in connection with the IPO and listing of shares in BW Energy on the Oslo Stock Exchange.
BW Energy is a growth-focused oil and gas company involved in the acquisition, development and production of proven oil and natural gas fields, and currently holds majority interests in three hydrocarbon licenses in Gabon, Brazil and Namibia. The company concentrates on proven hydrocarbon fields with significant upside potential to leverage BW's technical, operational and basin expertise with economically viable FPSO options. The average production in 2019 was at approx. 11,000 barrels of oil per day, which is expected to increase to 40,000 barrels per day in the coming years.
BW Energy was originally jointly owned by BW Offshore and BW Group, who remain the largest shareholders in BW Energy after the listing on the Oslo Stock Exchange.
In connection with the listing, BW Energy completed an initial public offering of USD 125 million. Further, BW Offshore, which is also listed on the Oslo Stock Exchange, distributed shares in BW Energy of a total value of USD 100 million to its shareholders.
BW Offshore owns and operates FPSOs worldwide. BW Group is a maritime group involved in the transport of oil and gas, floating gas infrastructure, environmental technology and production of oil and gas. BW Group is a major shareholder in the Oslo-listed companies BW Offshore, BW Energy, BW LPG, Hafnia and Epic Gas, as well as the NYSE-listed DHT Holdings.
BW Energy was listed on 19 February 2020, making it the first listing on the Oslo Stock Exchange in 2020.
DNB Markets and Pareto Securities were joint global coordinators and bookrunners in the IPO. Arctic Securities, Danske Bank, Nordea Bank and Swedbank (in cooperation with Kepler Cheuvreux) were co-managers.