Baker Botts lawyers represent Halliburton in one of the largest energy deals of 2014.
Under the deal, Halliburton will acquire all the outstanding shares of Baker Hughes in a stock and cash transaction. The transaction is valued at $78.62 per Baker Hughes share, representing an equity value of $34.6 billion and enterprise value of $38.0 billion, based on Halliburton’s closing price on November 12, 2014, the day prior to public confirmation by Baker Hughes that it was in talks with Halliburton regarding a transaction. Upon the completion of the transaction, Baker Hughes stockholders will own approximately 36 percent of the combined company. (more…)
King & Spalding represented real estate owner and developer Edens Investment Trust in its acquisition of all outstanding shares of AmREIT, Inc., in an all-cash transaction valued at $762 million. The deal was unanimously approved by AmREIT’s board of directors. It is expected to close in the first quarter of 2015. (more…)
Western Gas Partners, LP (NYSE: WES) (“WES” or the “Partnership”) announced that it agreed to acquire Nuevo Midstream, LLC (“Nuevo”), a leading Delaware Basin gas gatherer and processor, for $1.5 billion. The Partnership expects the acquisition will close in the fourth quarter of 2014, subject to regulatory approval and customary closing conditions. (more…)
Shell Midstream Partners, L.P., a limited partnership formed by Royal Dutch Shell, announced the pricing of its initial public offering of 40,000,000 common units representing limited partner interests at $23.00 per common unit. The underwriters of the offering have a 30-day option to purchase up to an additional 6,000,000 common units from Shell Midstream Partners. The common units will begin trading on the New York Stock Exchange on October 29, 2014 under the ticker symbol “SHLX.” The offering is expected to close on or about November 3, 2014, subject to customary closing conditions. (more…)
On October 27, 2014, Carrizo Oil & Gas, Inc. (Nasdaq:CRZO) announced that it completed the acquisition of additional leasehold and producing interests in the Eagle Ford Shale from Eagle Ford Minerals, LLC (“EFM”), for $250 million in cash, subject to a closing adjustments, as well as an update to its third quarter guidance. The acquisition represents an approximate 25% working interest in certain Eagle Ford Shale properties that were already operated by Carrizo. Following the closing of the transaction, Carrizo holds an approximate 100% working interest in these assets. The acquired properties are in three main project areas (RPG, Irvin Ranch, and Pena) which are centrally located in the most prospective portion of the Eagle Ford Shale’s volatile oil window. (more…)
Kirkland & Ellis LLP advised Blackstone Energy Partners in its $700M equity commitment to Windy Cove Energy LLC to acquire and develop carbon dioxide-enhanced oil recovery properties in the United States. Windy Cove is a newly formed oil and gas company based in Houston, TX. (more…)
Thompson & Knight advised privately-held institutional affiliates of EnerVest Ltd. (“EnerVest”) in the $1.95 billion acquisition of oil and gas assets in the Granite Wash and Cleveland fields of Texas and Western Oklahoma from Linn Energy LLC (“Linn”).
The Thompson & Knight team was led by Arthur J. Wright and included Brandon L. Bloom, Cole Bredthauer, Anthony J. Campiti, Jason Patrick Loden, Mary A. McNulty, and Kelli C. Sims. (more…)
On September 29, 2014, the EnLink Midstream companies, EnLink Midstream Partners, LP (NYSE:ENLK) (the Partnership) and EnLink Midstream, LLC (NYSE:ENLC) (the General Partner) (together “EnLink”), announced that a subsidiary of the Partnership signed a definitive agreement with Chevron Pipe Line Company and Chevron Midstream Pipelines LLC to acquire Gulf Coast natural gas pipeline assets including the Bridgeline system (“the natural gas assets”) predominantly located in Southern Louisiana for $235 million, subject to certain adjustments. (more…)
On September 24, 2014, Cabot Oil & Gas Corporation (NYSE: COG) announced the closing of a $925 million private placement of senior unsecured notes to a group of institutional investors. In total, Cabot raised $925 million through the following three series of notes: $100 million of 7-year 3.24% notes due 2021, $575 million of 10-year 3.67% notes due 2024 and $250 million of 12-year 3.77% notes due 2026. Proceeds from the offering will be used to repay Cabot’s outstanding borrowings under its credit facility, fund its Eagle Ford Shale acquisition and for other general corporate purposes. (more…)
Ajinomoto Co. Inc., a Tokyo-based, worldwide leader in high-quality processed foods and seasonings and a household name in Asia , announced today that it has entered into an agreement, through its subsidiary Ajinomoto North America, Inc., to acquire Texas-based Windsor Quality Holdings LP, a leading manufacturer of ethnic frozen foods in the U.S., including brands such as Ling Ling and Josè Olè. (more…)