© 2013 The Texas Lawbook.
By Natalie Posgate
Staff Writer for The Texas Lawbook
(November 20) – Houston-based CAMAC Energy Inc. announced Wednesday that will acquire remaining interests in offshore Nigeria from Kentucky-based subsidiary Allied Energy Plc. The estimated value of the deal is at least $560 million.
The deal was approved by CAMAC Energy’s board of directors, which received advice from an independent special committee.
Andrews Kurth represented the special committee, with Houston partner John Clutterbuck as the lead attorney. Partners Geoffrey Walker and Tammy Brennig and associate Charles Hornberger, all based in Houston, were also involved in the transaction.
A predominantly Houston-based team of Sidley Austin attorneys represented CAMAC Energy, including partner Jim Rice as the lead attorney and associates Tom Leslie, Garner Meads, Tommer Yoked and Anna Ha. Washington, D.C. partner Michael Hyatte was also involved in the deal.
Nicolas J. Evanoff, who has been CAMAC Energy’s general counsel, vice president and secretary since September 2011, is also involved. Before joining CAMAC Energy, Evanoff was the GC and senior vice president for Frontera Resources Corporation, an independent oil and gas exploration and production company in the country of Georgia. Before working in-house, he practiced corporate and securities law at Baker Botts in Houston.
Vinson & Elkins represented Allied.
The deal is subject to approval by CAMAC Energy’s stockholders and is expected to close in the first half of 2014.
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