Bird & Bird advises on cross-border private equity investment in the oilfield services sector


Bird & Bird has advised 4D Global Energy Investments plc on its $15 million equity investment in UK oilfield services company ARKeX.

4D Global Energy Investments plc is a Paris-based growth capital investor that specialises in the oil and gas sector. The Bird & Bird team was led by corporate partner Stephen Walters, who worked with London associates Vanessa Young and Claire Barker. This transaction illustrates the firm's growing practice in the Oil & Gas sector, a key growth area within International Energy & Utilities Group.

ARKeX, a leading provider of non-seismic geophysical imaging services for the oil & gas exploration industries, specialises in the acquisition of multi-client and proprietary Full Tensor Gravity Gradiometry (FTG) data. FTG surveys measure minute variations in the earth's gravitational field to help image subsurface structures. FTG has a much higher bandwidth and delivers a higher resolution image than conventional gravity surveys. It can be used as a stand-alone service or in conjunction with seismic data. ARKeX can also process and interpret conventional gravity and magnetic data as well as brokering multi-client non-seismic data. Based in the UK, ARKeX also has offices in Houston, and has global operational capabilities.

Bird & Bird Partner, Stephen Walters said: "We are delighted to have been chosen by 4D to advise on its investment in ARKeX, a company whose services to the E&P industry are underpinned by some fascinating technology. This mandate illustrates our commitment to the Upstream Oil & Gas exploration and production sector and to the service companies on which operators in the sector depend. With hydrocarbon recovery gravitating towards deep offshore and other challenging environments, successful drilling results are increasingly dependent on sophisticated, cutting edge technology. Bird & Bird is a renowned technology focused law firm, making us an advisor of choice to an increasing number of Oil & Gas companies and investors".