Davis Polk is advising Pattern Energy Group Inc.’s (Pattern Energy) Conflicts Committee of independent directors in connection with Pattern Energy’s acquisition of the Panhandle 1 wind power project from its majority shareholder, Pattern Energy Group LP, for a consideration of $125 million in cash. Panhandle 1 is being built in Carson County, Texas, and consists of 118 General Electric 1.85 MW wind turbines. Panhandle 1 will, when completed, add 179 MW (or 14%) in owned capacity to Pattern Energy’s portfolio. The acquisition is expected to close upon commencement of commercial operations in June 2014.
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Akin Gump advised EP Energy Corporation in an acquisition from an undisclosed seller of certain producing properties and undeveloped acreage directly offsetting existing Wolfcamp operating areas in Reagan and Crockett Counties in the Southern Midland Basin. The firm also served as counsel to EP Energy in its agreement with a separate company to divest certain non-core assets in the Arklatex Cotton Valley and South Louisiana Wilcox areas. (more…)
In response to client demand for expanded insurance litigation services across the country, Segal McCambridge Singer & Mahoney, Ltd. announces the addition of veteran trial attorney Patrick M. Kemp, who joins the firm’s Austin, Texas, office as a shareholder. (more…)
Paul Hastings LLP, a leading global law firm, announced today that the firm represented Wells Fargo Securities, LLC, as joint lead arranger and joint bookrunner, with J.P. Morgan Securities LLC, as joint lead arranger and joint bookrunner, and Wells Fargo Bank, N.A., as the administrative agent, in connection with a $600 million senior secured revolving credit facility for Lario Oil & Gas Company. (more…)
Akin Gump advised the conflicts committee of El Paso Pipeline Partners, L.P.’s (EPB) general partner, El Paso Pipeline GP Co. LLC, in a deal in which EPB said it will acquire Kinder Morgan, Inc.’s 50 percent stake in Ruby Pipeline, 50 percent stake in Gulf LNG and 47.5 percent stake in Young Gas Storage. The transaction is valued at approximately $2 billion, including $1.012 billion of proportionate debt at Ruby and Gulf LNG, resulting in an equity purchase price of $972 million. (more…)
April 30, 2014 ‒ EQT Corporation (NYSE: EQT) today announced that EQT Midstream Partners, LP (NYSE: EQM) (Partnership) has agreed to acquire EQT’s Jupiter natural gas gathering system (Jupiter) for $1.18 billion. EQT will receive $1.12 billion of cash and $59 million of common and general partner units. The Jupiter system gathers EQT’s Marcellus production in portions of Greene and Washington Counties, Pennsylvania, and consists of approximately 35 miles of natural gas gathering pipeline and approximately 21,300 horsepower of compression. Jupiter has a total of 970 MMcf per day of pipeline capacity and six interconnects with the Partnership’s transmission and storage systems. (more…)
Bracewell & Giuliani LLP announced today that Shamoil T. Shipchandler, former Deputy Criminal Chief for the United States Attorney’s Office for the Eastern District of Texas, has joined the firm as a partner in its Dallas office. Prior to joining the firm, Shipchandler served for almost more than 10 years as an Assistant United States Attorney, where his district-wide leadership responsibilities included serving as the Attorney-in-Charge of the Plano office and as the Asset Forfeiture Chief. (more…)
Bracewell & Giuliani LLP represented Baker Hughes Incorporated in the acquisition of Weatherford International Ltd.’s pipeline and specialty services business for $250 million. The transaction involves $241 million in cash and $9 million in working capital. (more…)
Kirkland & Ellis LLP announced today that it has expanded its corporate practice with the addition of leading M&A corporate attorney Andrew T. Calder, formerly a partner in Simpson Thacher & Bartlett’s Houston office. Mr. Calder joins as a partner in the Firm’s new Houston office. The office marks the Firm’s seventh in the United States and twelfth worldwide. (more…)
Ogletree, Deakins, Nash, Smoak & Stewart, P.C. (Ogletree Deakins), one of the largest labor and employment law firms representing management, is pleased to welcome Merritt Chastain as a shareholder in the firm’s Houston office. Chastain joins Ogletree Deakins from the Houston office of Gardere Wynne Sewell, where he was a partner. His arrival at the firm will immediately strengthen the firm’s Employment Law and Workplace Safety and Health Practice Groups in Texas. (more…)
The Firm represented Deutsche Bank Securities Inc., U.S. Bancorp Investments, Inc. and Macquarie Capital (USA) Inc., as the initial purchasers, in connection with the Section 3(a)(2) exempt offering of $175 million aggregate principal amount of 5.25% Subordinated Notes due 2026 by Texas Capital Bank, N.A. (“Texas Capital Bank”). The offering closed on January 31, 2014. (more…)
The Firm represented Deutsche Bank Securities Inc. and Macquarie Capital (USA) Inc., as the underwriters, in connection with a public offering of 1,700,000 shares of common stock, $0.01 par value per share, of Texas Capital Bancshares, Inc. (“TCBI”). The offering closed on January 29, 2014. (more…)
