PJSC LUKOIL agreed to acquire 50% stake in Block 4 project in Mexico from Fieldwood Energy SP LLC for approximately $440 million.

PJSC LUKOIL (MISX:LKOH) agreed to acquire 50% stake in Block 4 project in Mexico from Fieldwood Energy SP LLC for approximately $440 million on July 5, 2021. Completion of the transaction is subject to certain conditions, including approval by the Mexican authorities. Barclays acted as exclusive financial advisor to Riverstone in the transaction.

Baratiants Natalia of Akin Gump Strauss Hauer & Feld LLP acted as legal advisor to PJSC LUKOIL. As of February 3, 2022, the Mexican authorities approved the deal. The deal totaled $435 million plus actual expenses of around $250 million incurred from January 1, 2021, to the closing date.