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Arntzen de Besche assists in the establishment of a new oil company

The establishment of the new oil company Edge Petroleum AS was announced Tuesday 8 June.

The private investment firm Elliott Management Corporation will contribute USD 500 million in funding to Edge Petroleum. It is one of the largest equity raising completed for a startup exploration-focused E&P company in the North Sea.

Edge Petroleum’s focus will be to acquire licenses in fields that are under way to or under development, both within oil and gas.

Arntzen de Besche has assisted Edge Petroleum in the establishment. The team from Arntzen de Besche has been led by partner Per A. Dagslet and the core team has otherwise consisted of Lars Horgen Hinze, Anders Bugge Simonsen, Pål A. Reinertsen, Anders Heieren and Karl Erik Navestad.