Jan 8, 2015 | Recent Deals | Houston
Akin Gump advised Morgan Stanley in the sale, along with Chesapeake Energy Corporation, of natural gas producing assets in east Texas and north Louisiana to SND Operating, LLC. According to SND, the transaction was valued at $129 million in cash, subject to closing adjustments, and included 182,395 net acres, 73 percent operated by Chesapeake. As a result of the deal, SND, which is backed by Vortus Investment Advisors, now holds about 225,000 net acres of production.
Steve Davis, a partner in Akin Gump’s oil and gas practice, led the team advising Morgan Stanley. He was joined by associate Rahul Vashi.
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