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Am Law 100 firm with practices in Business, Digital Assets and Data Management, Intellectual Property, Labor & Employment, Litigation and Tax.

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<strong>Houston — April 2, 2025</strong> — Law firm BakerHostetler advised the target company in the successful closing of a stock purchase agreement between INEOS Energy and CNOOC. The deal is valued at nearly $2 billion.

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A US-based subsidiary of CNOOC International Ltd., has entered into the stock purchase agreement with a subsidiary of INEOS Energy for the sale of CNOOC’s subsidiary.

The SPA involves CNOOC Limited’s upstream oil and gas business located in the Gulf of Mexico, mainly consisting of non-operating interests in oil and gas projects including the Appomattox and Stampede fields.

The BakerHostetler team was led by the firm’s national Energy Industry team co-leader and Partner <a href="https://www.bakerlaw.com/professionals/gary-m-alletag/">Gary Alletag</a> and Associate <a href="https://www.bakerlaw.com/professionals/macy-t-munz/">Macy Munz</a> and included Partners <a href="https://www.bakerlaw.com/professionals/john-r-lehrer/">John Lehrer</a>, <a href="https://www.bakerlaw.com/professionals/william-l-pence/">Bill Pence</a>, <a href="https://www.bakerlaw.com/professionals/ryan-a-pittman/">Ryan Pittman</a>, <a href="https://www.bakerlaw.com/professionals/thomas-e-hogan/">Thomas Hogan</a> and <a href="https://www.bakerlaw.com/professionals/stefan-p-smith/">Stefan Smith</a>, Counsel <a href="https://www.bakerlaw.com/professionals/kristina-r-ramsey/">Kristina Ramsey</a> and Associate <a href="https://www.bakerlaw.com/professionals/jeffrey-e-liskov/">Jeffrey Liskov</a>.

For more information, see CNOOC’s press release announcing the transaction: <a href="https://www.prnewswire.com/news-releases/cnooc-limited-subsidiary-signed-spa-with-ineos-energy-302331807.html" target="_blank" rel="noreferrer noopener">CNOOC Limited Subsidiary Signed SPA with INEOS Energy</a>.

BakerHostetler’s Business Practice Group handles thousands of corporate transactions each year. The full-service team, consisting of more than 250 attorneys in offices across the United States, has extensive experience closing all varieties of transactions – including mergers and acquisitions and private equity, real estate, debt finance, capital markets and securities, healthcare and regulatory, restructuring and bankruptcy, emerging companies and venture capital, commercial transactions, and other matters central to a company’s success. A national group with a global reach, BakerHostetler’s Business Practice Group is consistently named a go-to firm by both Chambers USA and Legal 500. For more information, visit <a href="https://www.bakerlaw.com/services/business/">bakerlaw.com/services/business/</a>. <a href="https://www.bakerlaw.com/DigitalAssetsDataManagement"></a>Connect with us on LinkedIn at <a href="https://www.linkedin.com/company/bakerhostetler/" target="_blank" rel="noreferrer noopener">@BakerHostetler</a> or on the social platform X at <a href="https://twitter.com/BakerHostetler" target="_blank" rel="noreferrer noopener">@BakerHostetler</a>.

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BakerHostetler helps clients around the world address their most complex and critical business and regulatory issues. Our highly ranked attorneys deliver sophisticated counsel and outstanding client service. We have six core practice groups — Business, Digital Assets and Data Management, Intellectual Property, Labor and Employment, Litigation, and Tax — and more than 1,000 lawyers coast to coast. For more information, visit <a href="https://www.bakerlaw.com/">bakerlaw.com</a>.

BakerHostetler advised target company in successful closing of a stock purchase deal between INEOS Energy and CNOOC

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