CNOOC Sells US Holdings to INEOS Energy

Global law firm White & Case LLP has been instrumental in advising CNOOC Energy Holdings USA, a subsidiary of CNOOC Limited, on its strategic sale of CNOOC Holdings USA Inc. to INEOS Energy. The transaction involved the divestiture of equity interests in subsidiaries that comprise CNOOC's non-operating interests in upstream oil and gas projects, particularly in the prominent Appomattox and Stampede fields in the US Gulf of Mexico. The deal underscores a significant reshuffling of assets within the US oil and gas sector, as INEOS Energy steps in to acquire these established assets. The advisory team from White & Case was led by M&A partners from both Houston and Beijing offices, with additional expertise provided by associates and partners across various specialties, including Debt Finance, Environment & Climate Change, Antitrust, Tax, and Technology Transactions. The deal signifies CNOOC's strategic pivot away from the US Gulf market, aligning with its broader corporate goals of portfolio optimization and capital redeployment.