© 2014 The Texas Lawbook.
By Natalie Posgate – (October 29) – Houston-based Carrizo Oil & Gas, Inc. has completed its acquisition of additional leasehold and producing interests in the Eagle Ford Shale from Eagle Ford Minerals, LLC for $250 million.
Baker Botts represented Carrizo, and Porter Hedges represented Eagle Ford Minerals.
Houston partner Gene Oshman led the Baker Botts team and received assistance on the acquisition from partners Jeremy Kennedy and James Chenoweth and associates Ausra Laurusaite-Kromelis, Erin Hopkins and Brian Finch, who are all based in the Houston office.
Oshman also led a $300 million principal amount debt financing for Carrizo to help finance the acquisition. He received assistance from Houston partner Hillary Holmes and associates Travis Wofford, Andrew Thomison, Ori Lev and Lakshmi Ramanathan.
Carrizo general counsel Gerry Morton, associate general counsel Mike Kennington and Marcus Bolinder and counsel Amy Schwarzbach were also involved in the deal.
Baker Botts has represented Carrizo in a handful of previous transactions, including the sale of its Barnett Shale properties to Atlas Resource Partners in 2012 and KKR in 2011, the sale of its Mansfield pipeline and gathering system to Delphi Midstream in 2009 and various joint ventures in the Eagle Ford Marcellus and Utica shales.
Oshman served as the lead attorney (along with Morton) for the Mansfield deal, as well as a 2011 joint venture in the Eagle Ford with GAIL Global USA, 2010 joint venture in the Marcellus with Reliance Holdings USA, Inc. and another Marcellus joint venture with Avista Capital Holdings LP in 2008.
Partners Bob Thomas and Corey Brown and associates Deborah Ko and Adam Nalley of Porter Hedges in Houston handled Monday’s deal for Eagle Ford Minerals.
Porter Hedges handled several transactions for Eagle Ford Minerals in 2011 and 2012, including the sale of its leasehold interests to Carrizo, Chesapeake Energy and Comstock Resources. During its first sale of leasehold interests to Carrizo, Eagle Ford Minerals kept 25 percent of its interest. This week’s transaction gives Carrizo that remaining 25 percent.
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