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European law firm Fieldfisher has advised President Energy plc, the oil and gas exploration and production company, on a $20m fundraising as well as the restructuring of an existing $22m facility.
President Energy has producing assets in the US and in Argentina, as well as further exploration assets in Paraguay and Australia. Funds raised will be used to fund an initial ten well workover programme of shut in wells in Argentina in order to increase production, and to strengthen the group's balance sheet, provide critical mass and enable the pursuit of additional internal and inorganic growth opportunities.
The Fieldfisher team was led by Dominic Gurney-Champion, corporate partner and head of the firm's Energy & Natural Resources Group. He was supported by Nick Heap (corporate), Oliver Abel Smith and Lisa Harrison (finance).
Fieldfisher's Energy & Natural Resources Group consists of more than one hundred lawyers, advising a range of clients from national oil companies, super-majors and financial institutions, through to small and mid-sized operators.