Story perspectives

Complex $2 Billion Oil Asset Sale in Congo Completed

9/20/2025

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Summary

Story summary

In March 2023, Darren Spalding, co-chair of Bracewell’s oil and gas practice, managed a complex sale of oil assets in the Republic of the Congo.
Chevron and TotalEnergies sold their assets to Trident Energy for nearly $2 billion, necessitating innovative financing amid a tight market.
Spalding coordinated a multidisciplinary team, collaborating with various law firms and stakeholders.
The transaction comprised three related deals that required simultaneous completion.
Challenges included negotiations with supermajors and navigating regulatory complexities in Congo.

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Story summary

In March 2023, Darren Spalding, co-chair of Bracewell’s oil and gas practice, managed a complex sale of oil assets in the Republic of the Congo.
Chevron and TotalEnergies sold their assets to Trident Energy for nearly $2 billion, necessitating innovative financing amid a tight market.
Spalding coordinated a multidisciplinary team, collaborating with various law firms and stakeholders.
The transaction comprised three related deals that required simultaneous completion.
Challenges included negotiations with supermajors and navigating regulatory complexities in Congo.