Firm Advises Toreador on Shale Oil Partnership with Hess

Firm advises Toreador on agreement with Hess Oil France SAS on matters including the co-holding of the different exploration permits held by Toreador in the Paris basin and the investment by Hess of up to $120 million in a work program.

Willkie client Toreador, an independent energy company listed on The Nasdaq Global Market, recently signed an agreement with Hess Oil France SAS, a subsidiary of Hess Corporation, on matters including the co-holding of the different exploration permits held by Toreador in the Paris basin and the investment by Hess of up to $120 million in a work program. The transaction is subject to the approval of the French authorities. Toreador specializes in the exploration and production of crude oil in France. Hess Corporation, an international energy company listed on the NYSE, is a global leader on the exploration and production of crude oil and natural gas.

The deal was handled by partners Laurent Faugérolas and Jon Lyman; European counsel Philippe Grudé; and associates Danielle Scalzo, Charles Cardon, Philippe Bugnazet and Jonathan Bay.