Latham Advises PTTEP on Its Acquisition of Jadestone Energy’s 27.18% Stake in APICO LLC

Latham & Watkins has advised PTTEP HK Holding Limited, a wholly owned subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), on its acquisition of Jadestone Energy’s 27.18% equity stake in APICO LLC, which holds a 35% non-operated participating interest in the Sinphuhorm gas field and a 100% participating interest in the Dong Mun gas discovery onshore Thailand.

As a result of the transaction, PTTEP will, directly and indirectly, hold 100% of the issued share capital of APICO LLC and will increase its participating interest in the Sinphuhorm gas field from 80.5% to 90%. PTTEP is the existing operator of the Sinphuhorm gas field.  

The Latham team was led by Singapore corporate partner James Clayton-Payne, with associates Rob Thompson, Hui-Yan Chew, and Jen Whee Lee, Houston partner Ashley Nguyen, with associate Alexandra Cumberland and London associate Alice Maresi. Advice was also provided on tax matters by London partner Aoife McCabe.