Global law firm White & Case LLP has advised Triten Energy Partners (TEP), a new energy company in Houston specializing in downstream infrastructure projects, on a US$150 million equity commitment from Tailwater Capital, an energy-focused private equity firm based in Dallas. (more…)
Genesis Energy, L.P. recently announced that the company plans to invest approximately $300 million to expand its existing Granger production facility to increase soda ash production by approximately 750,000 tons per year. Following the expansion, the Granger facilities are expected to be one of the lowest cost soda ash production facilities in the world. In conjunction with the expansion, Genesis entered into agreements with funds affiliated with GSO Capital Partners LP for the purchase of up to $350 million of preferred interests in an unrestricted subsidiary of Genesis holding Genesis’ alkali business. A team from Akin Gump advised Genesis in the matter. (more…)
Paul Hastings LLP, a leading global law firm, announced today that Kfir Abutbul, a highly-regarded private equity lawyer, previously with Willkie Farr, has joined the firm as a partner in the Firm’s Private Equity and Energy Practices in Houston. His arrival builds on the strength of the firm’s practice strength in Private Equity/M&A and energy. (more…)
Kirkland & Ellis LLP advised Newfield Exploration Co. (NYSE: NFX) on its acquisition by Encana Corp. (TSX, NYSE: ECA) in an all-stock transaction valued at approximately $5.5 billion. In addition, Encana will assume $2.2 billion of Newfield net debt. The strategic combination will create a leading multi-basin oil and gas company. Encana’s full release is available here. (more…)
Kirkland & Ellis LLP advised Canadian Non-Operated Resources L.P. (CNOR), the sole shareholder of Pipestone Oil Corp. (Pipestone), in connection with Pipestone’s combination with Blackbird Energy Inc. (TSXV: BBI) and related equity and debt capital raises to fund drilling and other operational capital expenditures of the new combined entity, Pipestone Energy Corp. (Pipestone Energy). At closing, CNOR will be entitled to receive 103.75 million common shares of Pipestone Energy. Blackbird’s full release can be found here. (more…)
DLA Piper announced today that Daniel Tobey has joined the firm’s Litigation practice as a partner in Dallas. Tobey joins from Vinson & Elkins LLP. (more…)
Simpson Thacher is representing KKR in connection with its proposed acquisition of Discovery Midstream from TPG Growth for approximately $1.2 billion. The company is being acquired through a newly formed joint venture with Williams (NYSE: WMB) and is being funded primarily through KKR’s energy and infrastructure funds. Williams’ initial economic contribution and ownership will be 40% of the purchase price, while KKR’s initial economic contribution and ownership will be 60% of the purchase price. Williams will be the operator of Discovery and will hold a majority of governance voting rights. Williams has committed to fund additional capital as required to bring its economic ownership to 50/50. (more…)
Vinson & Elkins advised Talos Energy LLC in its combination with Stone Energy Corporation in an all-stock transaction that will create a premier offshore-focused exploration and production company. The company will be named Talos Energy, Inc. Based on Stone’s stock price of $35.49 on November 20, 2017 and the terms of the proposed transaction, Talos Energy, Inc. will have an initial equity market capitalization of approximately $1.9 billion and an enterprise value of approximately $2.5 billion. (more…)
A team of Haynes and Boone, LLP lawyers led by Houston Partner Bill Nelson is advising Alta Mesa Holdings, LP, which has reached a definitive agreement to combine with Silver Run Acquisition Corporation II and Kingfisher Midstream LLC. The transaction is subject to the approval of Silver Run II stockholders and the satisfaction or waiver of other customary closing conditions. (more…)
Kirkland & Ellis LLP advised Bayou City Energy, an investor in Alta Mesa Holdings, LP (Alta Mesa) and Kingfisher Midstream, LLC (Kingfisher), in the combination of Silver Run Acquisition Corp. II (NASDAQ: SRUN, SRUNU, SRUNW) with Alta Mesa and Kingfisher to form a combined company valued at approximately $3.8 billion. (more…)
Stone Pigman Walther Wittmann L.L.C. is expanding its energy and industrial practices with the addition of five lawyers from internationally recognized Cogan & Partners LLP. This combination will enable Stone Pigman to better serve clients in the project development and natural resources sectors, and will establish a Houston office for Stone Pigman. John P. Cogan, Jr. and Michael Anthony Nunes joined Stone Pigman as Members, and John P. Cogan III, Carlos A. Morán and James A. Cogan joined as Special Counsel. (more…)
Newfield Exploration Company has signed a definitive purchase and sale agreement with a subsidiary of Chesapeake Energy Corporation to acquire approximately 42,000 net acres in the Anadarko Basin STACK play for $470 million. Akin Gump advised Newfield in the matter. (more…)
