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The Texas Lawbook

Free Speech, Due Process and Trial by Jury

  • Appellate
  • Bankruptcy
  • Commercial Litigation
  • Corp. Deal Tracker/M&A
  • GCs/Corp. Legal Depts.
  • Firm Management
  • White-Collar/Regulatory
  • Pro Bono/Public Service/D&I

CDT Roundup: 15 Deals, 9 Firms, 122 Lawyers, $4.3B

December 10, 2020 Allen Pusey

So, most of us spent our pandemic summer wondering two major things: Where did I last leave my face mask? And where are the energy deals?

Well, this week they arrived. There are 15 deals this week and 11 of them are energy related. They’ve changed a bit during the pandemic, but they are energy deals. And they run the gamut of normals, old and new.

Maverick Natural Resources made an Old School acquisition. Humble Midstream got a funding commitment from EnCap. Caliche Energy partnered with Orion to build out a Gulf Coast storage facility.

On the cap markets side, there were debt structure moves by CNX, Magellan Midstream and Contango. Old School names and old school moves.

The New School players also made their presence known. In two separate cap markets deals, Sunnova, for instance, continued to securitize its solar market business.

Griddy Energy, the Houston start up that helped pioneer the wholesale-direct-to-consumer electric business, announced both an infusion of cash and an executive shakeup. And NanoTech, a startup spawned from the Houston Halliburton business incubator, announced significant funding for its energy-saving materials-tech business.

The big deal, however, was an energy merger advised by Kirkland & Ellis in a SPAC deal creating a $1.35 billion pro forma energy tech company.

Sure, the deals look a little different. Let’s say they’ve matured. But energy seems like it’s coming back with a new sense of purpose and a new sense of style. We’re just glad to have it back.

Last week, as mentioned, there were 15 deals worth a total of nearly $4.3 billion. Those deals included nine M&A transactions worth $2.8 billion and six cap markets deals worth nearly $1.5 billion. There were 122 Texas lawyers involved at nine different firms.

In our last report, there were 13 deals worth $6.3 billion, but that was for two weeks, including the Thanksgiving holiday respite.

Weekly Corporate Deal Tracker Roundup Stats

A compilation of weekly stats from The Lawbook's CDT Weekly Roundup
(Deal Values in Millions)

Week Ending
Deal CountAmountFirmsLawyersM&A CountM&A Value $MCapM Count
CapM Value $M
23-Aug-2523$15,2071012918$14,5005$707
16-Aug-2513$26,405121497$3,1806$23,225
09-Aug-2519$16,0661624515$11,3074$4,759
02-Aug-2517$19,4801110413$18,0024$1,478
26-Jul-2515$3,164129612$3,00233$162
19-Jul-2514$6,08014979$4,1655$1,915
12-Jul-2515$13,0121420812$10,9023$2,110
05-Jul-259$15,7788914$7,2805$8,498
28-Jun-2513$7,77781547$2,0316$5,746
21-Jun-2516$5,9841011311$3,0875$2,897
14-Jun-259$4788133603$478
07-Jun-2516$26,2101119611$24,7445$1,466
31-May-2519$23,3811116612$18,6657$4,717
24-May-2515$24,0331112113$23,6242$409
17-May-2516$21,7601214511$18,6155$3,145
10-May-2524$33,1751620619$30,7655$2,410
03-May-2511$4,249139011$2,226.52$2,022.5
26-Apr-2512$8,78791689$6,0113$2,776
19-Apr-2511$8,09771389$7,9852$112
12-Apr-2513$2,392815210$2,0653$327
05-Apr-2519$27,7621518816$25,4733$2,289
29-Mar-2521$8,1881025816$4,1255$4,064
22-Mar-2519$6,4851423115$4,1284$2,857
15-Mar-2513$13,7371315110$9,9324$3,805
8-Mar-257$2,2345665$2242$2,100
1-Mar-2511$3,05087510$2,5501$500
24-Feb-2512$16,39771496$6,6356$9,862
17-Feb-2517$12,1361313410$9,4112$2,725
10-Feb-2514$7,15491799$4,9505$2,204
3-Feb-2516 $10,068720011$7,5535$2,515
25-Jan-2514$10,261101259$2,2075$8,054
18-Jan-2519$7,3821531612$2,3007$5,082
11-Jan-2521$33,5601618716$32,5215$1,039
4-Jan-259$6,8279809$6,82700
21-Dec-2411$2,79811928$2,2293$570
14-Dec-2415$5,3231218612$3,8123$1,511
07-Dec-2416$4,7661023111$2,32152,445
30-Nov-2410$10,29191034$8,2906$2.001
23-Nov-2415$4,5531515311$3,3794$1,174
16-Nov-2417$11,4881124513$10,1864$1,303
09-Nov-2414$2,1101213912$1,4102$700
02-Nov-2412 $52,788 1110711$52,7381$50
26-Oct-248$3,1608657$3,0651$75
19-Oct-2412$5,3041113611$4,5541$750
12-Oct-2417$8,4381215015$8,1162$322
05-Oct-2422$23,1811218915$19,9807$3,201
28-Sep-2411$2,35671447$534$2,303
21-Sep-2412$9,568101695$4,1017$5,467
14-Sep-2424$10,9881223516$7,1758$3,813
7-Sep-2412$20,4201616811$20,3071$112.9
31-Aug-2413$20,631913412$14,7751$5,856
24-Aug-2419$8,4522132516$7,1023$1,350
17-Aug-2425$49,1961630411$39,38614$9,810
10-Aug-2420$12,2641531216$9,7944$2,470
03-Aug-2426$16,4981633418$8,1378$8,361
27-Jul-2419$16,4422127115$13,8384$2,604
20-Jul-2415$16,0161418410$14,2325$1,784
13-Jul-2420$17,220 1426518$7,146 2$10,074
6-Jul-2411$3,941 11958$2,650 3$1,291
29-Jun-2414$6,296 152248$6,296 6$1,927
22-Jun-2412$5,679 81375$210 7$5,469
15-Jun-2413$9,895 1621410$5,280 3$4,615
8-Jun-2419$23,859 1323912$19,436 7$4,423
1-Jun-2412$34,510 111479$26,110 3$8,400
25-May-2413$9,684 1517110$4,434 3$5,250
18-May-2411$5,490 111738$3,129 3$2,361
11-May-2422$14,855 1422716$11,105 6$3,750
4-May-2413$3,139 98710$1,297 3$1,842
27-Apr-2410$6,684 62810$6,684 00
20-Apr-2419$15,989 111479$5,208 10$10,781
13-Apr-2413$8,952 97610$1,652 3$7,300
6-Apr-2423$26,616 1422214$13,501 8$13,116
30-Mar-2412$9,286 81368$4,299 4$4,987
23-Mar-2418$5,451 1726616$4,759 2$692
16-Mar-2421$11,437 1318614$9,316 6$2,070
9-Mar-2423$4,695 2121819$2,723 4$1,972
2-Mar-2420$9,108 1937214$4,558 6$4,550
24-Feb-2419$16,382 1224815$9,507 4$6,875
17-Feb-2416$29,932 1515712$29,216 4$716
10-Feb-2425$10,750 1719619$5,372 6$5,379
3-Feb-2412$8,416 181259$3,416 3$5,000
27-Jan-249$8,165 9878$7,815 1$800
20-Jan-2414$4,084 1210912$3,219 2$865
13-Jan-2417$33,588 1225612$26,765 5$6,823
6-Jan-248$7,915 8846$7,265 2$650
30-Dec-2317$14,599 129915$2,714 2$11,885
23-Dec-2323$4,182 1321916$1,813 7$2,370
16-Dec-2313$16,436 132807$15,150 5$1,286
9-Dec-2326$14,633.90 1724416$8,095 10$6,538.90
2-Dec-2313$6,720 95712$6,630 1$90
25-Nov-239$4,835 91316$1,785 3$3,050
18-Nov-2322$6,568.70 1718414$4,709.20 8$1,859.50
11-Nov-2315$9,825 1317912$6,581 3$3,244
4-Nov-2315$20,582.50 1419312$19,417.50 3$1,165
28-Oct-2318$68,419.10 1815215$66,646 3$1,773.10
21-Oct-2316$6,755.90 1616515$6,755.90 1$3
14-Oct-2314$67,851.20 131259$61,998.50 5$5,852.70
7-Oct-2317$6,595.50 1322816$5,995.50 1$600
30-Sep-2317$1,896.45 1318914$806.45 3$1,090
23-Sep-2323$6,432.70 1723016$1,402.80 7$5,029.90
16-Sep-2325$23,226.70 2335316$17,239 9$5,987.70
9-Sep-2312$6,369 81027$4,311 5$2,058
2-Sep-2314$2,522 69213$1,322 1$1,200
26-Aug-2317$12,160.25 1320215$6,573.25 2$5,587.00
19-Aug-2319$11,505 1321315$11,255 4$250
12-Aug-2319$9,698.80 131847$3,270 12$6,428.80
5-Aug-2313$5,201 1211812$5,051 1$150
29-Jul-2315$21,031.60 1319611$18,292.00 4$2,739.60
22-Jul-2318$3,992 1213013$2,808 5$1,184
15-Jul-2313$8,254.95 138113$8,254.95 00
8-Jul-2316$5,441.45 1217211$2,443 5$2,998.45
1-Jul-2316$6,872 1010512$5,474 4$1,398
24-Jun-2313$10,914 1620110$7,874 3$3,040
17-Jun-2317$5,880.70 1515115$4,705.70 2$1,175
10-Jun-2319$8,516.10 1311116$6,252.40 3$2,263.70
June 3 202312$6,104.42 121388$4,256.92 4$1,847.50
27-May-2317$12,200 106711$6,165 6$6,035
20-May-2311$22,458.10 81034$19,455 7$3,003
13-May-2312$7,034 101018$5,460 4$1,574
6-May-2320$3,297.60 1819617$2,985.60 3$312
29-Apr-2323$3,691.20 1813517$1,969.70 6$1,721.50
22-Apr-2316$5,570 1410414$4,750 2$1,000
15-Apr-2312$23,818.10 95910$21,618.10 2$2,200
8-Apr-2316$7,949 91739$5,472 7$3,477
1-Apr-2321$18,676.70 1217511$10,926.70 10$7,750
25-Mar-2315$8,779.50 101415$2,362 10$6,416.50
18-Mar-237$14,048.80 6695$13,345 2$703.80
11-Mar-2321$11,576 1616516$8,131 5$3,445
4-Mar-2320$9,668 1122816$8,209 4$1,459
25-Feb-2313$5,335 1313012$4,235 1$1,200
18-Feb-2314$5,743.70 131588$898.70 6$4,845
11-Feb-2316$12,088 1213712$9,965 4$2,123
4-Feb-2317$8,066 1514013$5,614 4$2,452
28-Jan-237$2,180 7755$1,692.75 2$488
21-Jan-2317$5,768 1617412$1,918 5$3,850
14-Jan-2311$2, 800101028$421 3$2,400
7-Jan-2318$8,296 1116714$6,461 3$1,835
31-Dec-2214$2,732 119912$2,092 2$640
17-Dec14$7,919 1311512$7,419 1$500
10-Dec-2214$10,093 128811$7,093 3$3,000
3-Dec-2226$12,800.90 1117220$4,141 6$8,659.90
26-Nov-228$2,266.70 853$76 5$2,190.70
19-Nov-2221$2,886 1521219$2,550 2$336
12-Nov-2213$15,093.70 9819$14,200 4$893.70
5-Nov-222519,337.201650922$8,267.20 3$11,070
29-Oct-2215$7,805.30 911614$7,180.30 1$625
22-Oct-2220$8,193.50 1325313$5,442 7$2,751.50
15-Oct-229$3,046.10 91397$2,588.30 2$457.80
8-Oct-2219$2,011.80 1211416$833.80 3$1,178
1-Oct-2223$5,532.90 1615618$4,952.30 5$580.60
24-Sep-2218$5,194 1421615$4,050 3$1,144
17-Sep-2221$8,352.30 1232015$4,759.60 6$3,592.70
10-Sep-2215$19,853.50 1012613$19,403.60 2$450
3-Sep-229$2,312 9629$2,312 00
27-Aug-2216$30,891.70 1013515$30,666.40 1227.7
20-Aug-2212$1,977 815299253$1,052
13-Aug-2218$8,004.70 1124211$2,844.70 7$5,160
6-Aug-2224$7,948.90 1224017$3,577 7$4,371.90
30-Jul-228$6,941 9787$6,839 1$102
23-Jul-2211$801 119210$801 10
16-Jul-2214$3,650 1012214$3,650 00
9-Jul-2210$3,557.70 7689$3,557.70 10
2-Jul-2218$8,609.40 1315215$2,754.40 3$5,855
25-Jun-2215$6,142 131469$2,017 6$4,125
18-Jun-2217$11,890.10 1422815$11,410 2479.7
11-Jun-2217$7,600 1212310$2,300 7$5,300
4-Jun-2212$2,937 101279$692 3$2,245
28-May-229$3,197.60 11869$3,197.60 00
21-May-2214$7,284.50 1218511$6,609 3$675.50
14-May-2211$306.60 98010$306.60 1$225
7-May-2216$10,451.75 1210812$1,827 4$8,624.75
30-Apr-2216$2,296.50 1615712$895.50 4$1,401
23-Apr-2210$2,241 11588$1,641 2$600
16-Apr-2211$6,643 71568$2,359 3$4,284
9-Apr-2217$4,429 1418411$1,690 6$2,739
2-Apr-2213$1,755 88410$1,145 3$610
26-Mar-2211$3,205 8656$200 5$3,005
19-Mar-2213$2,239.17 910613$2,239.17 00
12-Mar-2218$12,016 1123915$11,965 2$51.35
5-Mar-2217$6,786 1313713$5,161 4$1,625
26-Feb-2212$5,095 81499$4,437.50 3$658
19-Feb-2217$22,229 1717414$21,354 3$875
12-Feb-2212$2,344.70 10738$641.70 4$1,703
5-Feb-2211$2,503 89911$2,503 00
29-Jan-2211$3,872 1210112$3,872 00
22-Jan-2213$5,143.50 109912$4,842.50 1$301
15-Jan-2212$7,605 91559$6,480 3$1,025
8-Jan-2213$8,256.20 1110213$8,256.20 00
1-Jan-229$1,273.80 6509$1,273.80 00
25-Dec-2121$4,734.75 1117616$3,410 5$1,324.75
18-Dec-2126$7,325.20 1519318$3,640.20 8$3,685.20
11-Dec-2116$5,017 1010913$1,417 3$3,600
4-Dec-2114$2,310 8868$2,310 6$1,882.05
27-Nov-219$3.460.1101016$1,758 3$1,702.60
20-Nov-2120$22,792 1515712$18,864.50 8$3,928
13-Nov-2121$26,729 1217813$11,822 8$14,907
6-Nov-2112$8,303 1315710$6,682 3$1,621
30-Oct-2121$10,368 1521815$9,24.46$1,103.00
23-Oct-2121$18.783.11522211$12,314 10$6,468.60
16-Oct-2115$3,868 1111815$2,293 2$1,575
9-Oct-2120$8,610 1617516$7,795 4$815
2-Oct-2114$6,250 1113710$5,200 4$1,050
25-Sep-2111$11,460 9937$10,200 4$1,250
18-Sep-2111$16,603 8998$15,084 3$1,519
11-Sep-2117$10,653 1110313$8,503 4$2,150
4-Sep-2113$7,222 108911$6,715 2$507
28-Aug-2112$763 96311$663 1$100
21-Aug-2112$29,659 77911$29,579 1$80
14-Aug-2122$17,845 1119912$12,805 10$5,04
7-Aug-2117$13,670 1213915$11,766 2$1,904
31-Jul-2121$8,160 1113410$3,574 10$4,586
July 24,202121$6,367 1113915$3,712 6$2,655
17-Jul-2114$4,009 1112412$2,015 2$1,994
10-Jul-2116$3,997 1314311$1,597 4$2,4
3-Jul-2124$7,492 139416$3,769 8$3,722
26-Jun-2110$4,995 7858$3,847 2$1,148
19-Jun-2128$16,830 82289$1,861 19$14,968
12-Jun-2126$27,238 1520919$25,602 7$1,636
5-Jun-2115$15,539 1310013$14,709 2$600
29-May-2135$20,279 1114528$18,647$1,639
22-May-2124$53,208 1417417$51,047 7$2,161
15-May-2118$10,620 1322011$5,870 7$4,809
8-May-2117$10,400 1115615$8,386 2$2,500
1-May-2121$7,200 1611512$3,808 9$3,392
24-Apr-218$20,200 9318$20,200 00
17-Apr-2114$6,270 810211$40,180 3$2,260
10-Apr-2115$8,940 1312914$7,990 1$950
3-Apr-2118$19,513 1015112$16,923 6$2,590
27-Mar-2127$13,942 1524414$4,300 13$9,633.50
20-Mar-2111$2,046 41023$270 8$1,776
13-Mar-2115$3,270 91096$538 9$2,732
6-Mar-2124$13,617 1019613$10,395 11$3,222
27-Feb-2119$8,105 1213915$4,970 4$3,135
20-Feb-219$8,820 91538$8,520 1$300
13-Feb-2112$4,852.60 78172,7665$2,086.60
6-Feb-2118$9,752 1315314$5,222 4$4,530
30-Jan-2118$9,449 918215$8,753.80 3$695.30
23-Jan-2114$8,150 81186$4,000 8$4,150
16-Jan-2117$6,783 1313811$2,400 6$4,382.90
9-Jan-2122$6,829 1413518$3,139.30 4$3,690
2-Jan-217$1,466 7607$1,466 00
26-Dec-2018$15,900 1216316$5,300 1$600
19-Dec-2018$9,769 1411014$8,426 4$1,343
12-Dec-2010$7,200 91009$3,325 1$3,830
5-Dec-2015$4,261 91229$2,780 6$1,481
28-Nov-2019$7,758 1011013$4,003 6$3,755
14-Nov-2014$864.10 1415712$289.10 2$575
7-Nov-2013$6,332 91299$2,483.50 4$3,849
31-Oct-2010$3,995.80 81036$3,231.10 4$754.70
24-Oct-206$18,100 6585$17,709 1$350
17-Oct-208$351.90 5558$351.90 00
10-Oct-207$5,229 3504$735 3$4,494
3-Oct-2014$21,428 91739$17,535 5$3,893
26-Sep-2010$12,770 8935$10,300 5$2,470
19-Sep-2014$8,365 91016$1,020 8$7,345
12-Sep-206$4,406 8593$1,270 3$3,136
5-Sep-2011$5,191 81179$4,061 2$1,130
29-Aug-2011$2,531 9945$1,130 6$1,401
22-Aug-2018$6,574 121407$1,930 11$4,644
15-Aug-2013$4,991 10977$1,216 6$3,775
8-Aug-2012$32,092 111129$30,457 3$1,635
1-Aug-207$5,287 8765$3,687 2$1,600
25-Jul-209$18,751 6677$18,403 2$348
18-Jul-206$1,982.50 5504$1,407.50 2$575
11-Jul-2011$565.10 127510$65.10 1$500
4-Jul-2010$8,889 8989$8,788 1$100.30
27-Jun-208$6,874 10505$4,972.50 3$2,081.50
20-Jun-2012$4,444 91157$2,829 5$1,615
13-Jun-206$3,582 4372$350 4$3,232
6-Jun-2011$3,213.70 8657$470 4$2,743.70
30-May-208$7,335 7486$4,639 2$2,697
23-May-204$432.40 4343$432.40 10
16-May-206$310 6345$310 10
9-May-2018$5,630 1612414$3,180 4$2,450
2-May-201510,40010908$1,900 7$,8,500
25-Apr-208$3,400 9365$1,000 3$2,450
18-Apr-2019$9,500 14928$185.70 11$9,360
11-Apr-2012$6,000 9405$190 7$5,800
4-Apr-2014$8,200 116810$2,200 4$6,000
28-Mar-2016$6,500 139610$3,700 6$2,800
21-Mar-2011$11,910 7337$2,250 4$9,960
14-Mar-207809.86346684.81125
7-Mar-2016$2,500 157013$669 3$1,400
29-Feb-2013$15,260 1312811$11,760 2$3,500
22-Feb-2012$3,700 109210$2,560 2$1,130
15-Feb-2016$1,250 108412$35 4$1,222
8-Feb-2018$6,080 1412314$2,595 4$3,485
1-Feb-2021$20,900 1210114$17,860 7$3,060
25-Jan-2013$7,430 136212$6,430 1$1,000
18-Jan-2023$9,580 1512019$6,580 4$3,000
11-Jan-2021$14,200 1819916$1,020 5$13,200
4-Jan-2022$6,400 1111916$3,204 6$3,245
28-Dec-1922$7,150 1917518$6,800 4$327.40
14-Dec-1924$36,300 2316719$9,500 5$26,800
7-Dec-1911$10,400 11557$1,082 4$9,370
November 30. 201914$2,450 1212612$1,760 2$692.50
23-Nov-1916$1,995 104111$615 5$1,380
16-Nov-1915$3,820 1313511$2,500 4$1,271
9-Nov-1925$12,900 1718223$12,200 2$575
2-Nov-1910$2,470 126192,4503$22
26-Oct-1912$5,560 147011$3,860 1$1,700
19-Oct-198$6,600 81388$6,600 00
12-Oct-1919$4,300 145516$3,800 3$500
5-Oct-1918$14,500 1916615$11,100 3$3,400
28-Sep-1919$8,100 1813218$7,560 1$550
21-Sep-1914$6,300 166611$2,160 3$4,170
14-Sep-1915$23,800 125611$21,250 4$2,570
7-Sep-1917$3,500 159814$1,900 3$1,600
31-Aug-195$8,700 6505$8,700 00
24-Aug-1916$10,000 148215$4,250 1$5,750
16-Aug-1910$1,680 5527$650 3$950
9-Aug-1917$17,700 156814$3,900 3$13,800
2-Aug-1913$5,760 1210813$5,760 NANA
27-Jul-1911$7,300 13768$6,570 3$730
20-Jul-1913$11,800 1312511$5,300 2$6,500
13-Jul-1910$775 7468$542.50 2$233
6-Jul-197$2,500 9857$2,500 00
29-Jun-1923$8,290 1515417$2,300 6$5,970
22-Jun-1917$10,700 1013914$7,700 3$3,000
15-Jun-1911$13,500 1416011$13,500 NANA
8-Jun-1913$2,870 175511$1,570 2$1,300
1-Jun-1910$4,460 11608$4,140 2$315
25-May-1917$4,360 147914$3,700 3$612
18-May-1922$9,000 1715016$3,400 6$5,600
11-May-1918$19,800 1717715$18,300 3$1,500
4-May-1910$7,075 6328$6,900 2$175
27-Apr-1915$3,200 1411714$3,160 1$40
20-Apr-1913$13,500 10909$12,200 4$1,300
13-Apr-1916$38,900 149114$37,800 2$1,100
6-Apr-1912$6,870 119410$6,730 2$50
30-Mar-1915$6,470 128410$7,91.55$5,677
23-Mar-1918$6,450 149114$5,042 4$1,408
16-Mar-1914$10,180 1211511$8,800 3$1,300
9-Mar-199$1,800 6498$1,300 1$500
2-Mar-1920$3,033 1610714$1,817 6$1,262
23-Feb-1912$2,040 8699$614.60 3$1,430
16-Feb-1916$9,970 187716$9,970 00
9-Feb-1914$6,400 1011014$6,400 00
2-Feb-1918$6,740 159916$5,720 2$950
26-Jan-1913$2,770 116711$918.95 2$1,850
19-Jan-1915$3,819 167612$2,594 3$1,225
12-Jan-1918$7,283 149215$1,683 3$5,600
5-Jan-1910$529 125010$529 00
22-Dec-1817$2,570 138714$941 3$1,629
15-Dec-1810$2,860 8268$264 2$2,600
8-Dec-1815$1,819 166512$552 3$1,267
1-Dec-1812$7,500 10909$1,200 3$6,200
28-Nov-1815$4,500 1110714$4,000 1$500
19-Nov-1818$6,137 139813$2,142 5$3,995
14-Nov-1818$9,200 1315215$8,500 3$694
6-Nov-1816$17,300 1618314$16,361 2$950
29-Oct-1814$14,400 1812717$13,800 1$600
24-Oct-1813$6,140 1312611$5,122 2$1,018
17-Oct-1818$18,390 1512514$12,292 4$6,098
10-Oct-1829$3,149 1810420$1,647 9$819
2-Oct-1818$9,300 116714$7,300 4$2,000
25-Sep-1813$7,000 117510$6,000 3$995
18-Sep-189$3,570 7449$3,570 00
11-Sep-1813$5,900 1013213$5,900 00
7-Sep-1814$5,000 158611$4,000 3$1,000
29-Aug-1815$20,700 147913$4,700 2$16,000
20-Aug-1810$12,400 11538$11,380 3$1,057
14-Aug-1812$19,900 121329$18,889 3$1,011
7-Aug-1816$68,600 1110613$67,259 3$1,340
31-Jul-1815$15,100 159511$13,060 4$2,060
23-Jul-1813$2,130 156010$1,804 3$1,100
17-Jul-1814$5,370 17989$4,310 5$1,100
9-Jul-1816$11,200 157410$11,080 6$862
3-Jul-1813$7,000 78112$6,330 1$750
25-Jun-1815$8,800 13979$4,970 6$3,930
18-Jun-1813$14,200 14807$221 6$14,290
11-Jun-1812$6,300 8968$5,910 4$803
6-Jun-1813$14,500 10888$14,154 5$579
31-May-1811$4,890 10638$3,240 3$1,790
22-May-1815$20,400 11639$19,808 6$885
15-May-1815$4,700 1510610$3,900 5$643
9-May-1811$1,400 13889$1,300 2$560
1-May-188$14,250 7887$13,400 1$450
24-Apr-1812$5,300 66111$4,470 1$800
17-Apr-189$1,800 10447$2,330 2$1,434
11-Apr-1811$2,500 8326$1,690 5$809
3-Apr-1815$13,400 111219$12,020 6$1,090
28-Mar-1810$4,000 10927$3,870 3$215
19-Mar-1817$5,800 135110$590 7$5,165
12-Mar-1815$3,130 114311$2,360 4$788
6-Mar-1819$5,400 1311610$1,530 9$4,860
27-Feb-1820$6,600 136914$5,530 6$1,030
19-Feb-1815$5,500 1411110$3,990 6$1,980
12-Feb-1823$10,900 1715712$7,110 11$3,840
5-Feb-1816$8,600 131007$1,330 9$7,800
30-Jan-1811$12,600 11685$7,300 6$4,982
24-Jan-1819$9,400 151295$2,010 14$7,337
18-Jan-1810$6,280 8492$2,100 8$4,188
9-Jan-1812$16,500 12929$15,890 3$475
3-Jan-1810$2,500 9478$2,350 2$150
27-Dec-1715$9,000 151139$7,568 6$1,784
18-Dec-1715$13,800 161649$13,010 7$1,118
11-Dec-1714$9,700 1012612$2,940 4$8,500
4-Dec-176$1,800 6315$1,510 1$300
28-Nov-177$3,850 8764$3,260 3$285
16-Nov-1710$2,700 10486$1,840 4$856
8-Nov-1715$2,380 179110$1,860 5$516
1-Nov-1712$4,700 17949$3,400 4$1,300
23-Oct-1715$10,500 106710$9,780 4$1,530
18-Oct-176$2,000 373$225 3$1,820
10-Oct-1712$6,570 1009$3,880 3$3,360
2-Oct-178$3,100 11193$1,630 5$1,750
25-Sep-178$4,880 8795$2,660 5$2,070
18-Sep-179$4,770 3$300 6$4,470
12-Sep-1711$4,430 8$2,030 3$2,400
1-Sep-174$1,310 3$317 1$1,000
23-Aug-1711$13,640 98$11,840 3$1,800

Last year at this time, there were 11 deals worth $10.4 billion.

But who’s counting? Like we said: We’re just glad to see energy back.

M&A/PE FUNDING

Kirkland Counsels Star Peak SPAC in Merger with Stem

As part of the recent spate of SPAC transactions in the alternate energy space, Stem, Inc. announced Dec. 4 that it is combining with Star Peak Energy Transition Corp. to become a publicly traded company on the New York Stock Exchange.

Founded in 2009, Stem is a provider of energy storage systems that allow AI-driven switching between various power sources: onsite generation, battery power and traditional grid systems. The company, which markets its proprietary software system as Athena, allows flexibility to large-scale power users as they make transitions to energy alternatives from a variety of sources via democratization and decentralization of variable power sourcing.

The combination of Stem, based in Milbrae, California, and Illinois-headquartered Star Peak carries a reported pro forma equity value of $1.35 billion.

The current transaction will provide $608 million of gross proceeds to the company, including a $225 million fully committed common stock PIPE at $10.00 per share anchored by existing and new investors, including: BlackRock, Van Eck Associates Corporation, Adage Capital Management, Electron Capital Partners, and Senator Investment Group.

Star Peak was advised by Kirkland & Ellis with a team led by Houston transactional partners Bill Benitez and David Thompson. The team also included partners Matt Pacey, Bryan Flannery and Stephen Jacobson, as well as associate Mark Kunzman, all of Houston. New York transactions partner Peter Seligson pitched in.

Goldman Sachs & Co. is financial advisor to Star Peak. Goldman Sachs and Credit Suisse Securities are joint capital markets advisors to Star Peak and serving as co-placement agents on the PIPE offering.

Gibson, Dunn & Crutcher and Wilson, Sonsini, Goodrich & Rosati are serving as legal advisors to Stem. Morgan Stanley & Co is lead financial advisor with Nomura Greentech for Stem.

Star Peak — sponsored by Triangle Peak Partners chairman Michael C. Morgan and members of Magnetar Capital —completed its initial public offering of 38,358,504 units on Aug. 20 and began to trade Common A stock in early October.

Stem CEO John Carrington said the merger and investments will significantly accelerate the company’s growth. The company has commissioned more than 600MWh of storage capacity since 2014, and its Athena software platform is already operating or has been contracted by 900 companies in 200 cities. The company holds a 75% market share in California, the largest energy storage market in the U.S.

“Stem is a market leader and our Athena software platform is proven in the U.S., Japan and Canadian markets, and this merger will enable expansion to several additional global markets. Our systems deliver value to our customers by lowering energy costs, enhancing renewable returns, and meeting ESG and sustainability goals, while increasing grid reliability,” Carrington said.

Morgan, who is chairman of Star Peak and will join Stem’s board of directors, “Stem is a leader in one of the fastest growing markets in clean energy and the first pure play smart energy storage company to go public.”

Kirkland, Latham Advise in $1.475B Merger of Custom Truck to Nesco

Blackstone-backed Custom Truck One Source announced Dec. 3 that it is being acquired by Nesco Holdings for $1.475 billion.

Nesco and CTOS are leading providers of truck and heavy equipment rental, sales and aftermarket parts and service. As part of the deal, Platinum Resources has agreed to invest $850 million into Nesco and will hold a majority interest in the combined company, along with existing Nesco investors Energy Capital Partners and Capitol Investment, along with Blackstone. Currently Energy Capital and Capitol Investment own about 70% of Nesco’s common stock.

Kirkland & Ellis Advised Custom Truck with an all-Houston team led by transactional partners Rhett Van Syoc, Cy Jones and Robert Goodin and associates Camille Walker, Maggie Hoffman and Mikhaila Martin; capital markets partner Michael Rigdon, debt finance partner Andy Veit and tax partners Mark Dundon and William Dong. Citi served as financial advisor.

Advising Nesco was Latham & Watkins with a non-Texas team led by Washington D.C. partners Paul Sheridan and David Brown with lawyers from Washington D.C., Chicago and New York.

J.P. Morgan Securities as financial advisor.

Hughes Hubbard & Reed was legal counsel to Platinum and the debt financing is being led by Bank of America.

The combined company will be headquartered in Kansas City with a reconstituted. The companies say the merger adds depth and geographic reach along with reduced debt and increased liquidity, as well as the scaling and flexibility to meet anticipated equipment demand for large scale projects related to national infrastructure initiatives.

The $850 million investment by Platinum was in exchange for newly issued common stock priced at $5.00 per share. Blackstone and members of the Custom Truck management team are expected to invest another $100 million into Nesco in exchange for stock at the same $5.00 price. After the combination Platinum is expected to own about 57% of Nesco.

At closing there will be about 259 million shares at closing, assuming the $200 million in equity is available. Financing will include a new $750 million ABL and $900 million of high yield notes, setting pro forma net debt at $1.3 billion.

Mark Ein, CEO of Capitol and vice chairman of Nesco said the combination of Nesco and Custom Truck was a top priority when Capitol made its investment in Nesco last year.

“With enhanced scale, a broader set of capabilities and vastly improved financial flexibility, we believe the new company will be distinctively well-positioned to take advantage of the anticipated growth in critical U.S. infrastructure efforts in energy, telecom and rail over the near term and beyond,” Ein said.

Macquarie Group Invests in Griddy Energy, Baker Botts Advises

Texas-based Griddy Energy, a direct-to-consumer electricity wholesaler, announced an agreement with Macquarie Energy for investment financing for wholesale supply facility and operational growth.

Macquarie Energy is a subsidiary of the Macquarie Group, based in Sydney, Australia.

Griddy also announced the appointment of a new team of senior managers formerly of Crius Energy whose goal will be to stabilize Griddy’s pricing and expand the company’s reach in the volatile Texas energy market.

Baker Botts is representing Griddy Energy in connection with the financing and investment with a team led from New York and Washington D.C. by partners Martin Toulouse and Elaine Walsh. The team included several lawyers from Dallas, including corporate partners Bryan Henderson and Steve Marcus, along with associates Taylor Courtade, Ray Palmer and Victor Ochieng.

Energy veteran Gregory Craig and Griddy entered the Texas deregulated consumer energy market in 2017. Griddy charged a signup fee and based pricing on wholesale electricity rates which, over time, proved volatile. In August 2019, high heat and energy demand drove electric wholesale prices to as much as $9,000 per megawatt, which for residential consumers meant eight days of electricity could cost as much as $350. Craig later told the Houston Chronicle that Griddy had lost as much as 20 percent of their customer base as a result.

Craig says he welcomes the executive changes at Griddy that include: Michael Fallquist as CEO, Christian McArthur as COO and Roop Bhullar as CFO. The executive trio held similar positions at Crius Energy, an independent marketer of alternative energy products, until the company was acquired by Vistra Energy in July 2019 and made its way onto the Toronto Stock Exchange.

“Michael, Christian and Roop bring a proven track record and share our vision to disrupt the retail energy market by delivering an unmatched value proposition and experience to our members,” said Craig who, with co-founder Nicholas Bain be on the Griddy board of directors.

Gibson Dunn Advises CenterOak Partners in Exit from FullSpeed Automotive

CenterOak Partners announced Nov. 30 its sale of the automotive services company FullSpeed Automotive to MidOcean Partners. Terms of the transaction were undisclosed.

FullSpeed owns and franchises 600 locations for a variety of branded aftermarket auto services, particularly quick lubrications, auto rotation and oil changes. MidOcean is a New York-based private equity manager that specializes in middle market investments and alternative credit arrangements.

Gibson Dunn advised CenterOak Partners with a team that was led by Dallas partner Robert Little and included Dallas associates Joseph Orien, Steve Wright and Kiel Sauerman. Dallas partner Krista Hanvey advised on benefits; and Dallas associate Mike Cannon advised on tax aspects. Washington, D.C. counsel Andrew Cline advised on antitrust aspects.

Gibson Dunn separately advised FullSpeed Automotive with a corporate team from New York and Washington, D.C. Harris Williams served as FullSpeed’s financial advisor.

The Detroit-headquartered firm Honigman counseled MidOcean.

CenterOak general counsel is Mike Salim, a veteran of Brazos Private Equity Partners and a law graduate of Southern Methodist University.

Founded in 1979, and headquartered in Greenwood Village, Colorado, FullSpeed has acquired and developed quick auto service brands that include: Grease Monkey, SpeeDee, and Uncle Ed’s Oil Shoppe.

Dallas-based CenterOak Partners acquired FullSpeed in November 2017, the company’s exit from FullSpeed marks its second in the automotive aftermarket space. In August 2019, CenterOak sold its auto glass repair company, TruRoad to Safelite after forming the company only 16 months earlier. During their tenure at FullSpeed, the company made 15 acquisitions

“The highly fragmented automotive aftermarket is a space we know well,” said Randall Fojtasek, chief executive officer and a managing partner of CenterOak.

V&E Advises Ecliptic Capital as NanoTech Gets $5M in Seed Round

Austin-based Ecliptic Capital announced Dec. 3 that it had provided $5 million in seed funding to Houston startup NanoTech Inc. NanoTech also announced the conversion of an earlier SAFE agreement with Halliburton Labs, the Houston-based cleantech incubator backed by Halliburton.

NanoTech is a material science company focused on fire-proofing and insulation technologies. It is, for the moment, located at the Halliburton Labs campus.

Vinson & Elkins advised Ecliptic Capital on the transaction with a team led from Houston by partner Wes Watts with associate Chris Kirby and counsel Christie Alcalá.

“The investment from Ecliptic Capital will allow us to scale our business to achieve our mission of fireproofing the world and reducing global energy consumption,” said NanoTech CEO Mike Francis. “Additionally, our participation with Halliburton Labs provides us with the support of a Fortune 500 company.”

Mike Erwin, founder of Ecliptic Capital, said his firm was proud to be the company’s first institutional investor.

“We look forward to a new world where NanoTech accelerates the thermal management market from science-fiction to science-fact,” Erwin said.

NanoTech says its technology — which includes spray-ons and additives — is applicable to a wide variety of industries: commercial construction, chemical plants, oil and gas, aviation and utilities. The materials can protect against first up to 3,300 degrees, the company said.

“We are thrilled to see a Halliburton Labs participant secure their first round of financing, and congratulate the Ecliptic and NanoTech teams,” said Scott Gale, the Halliburton Labs executive director.

Maverick Natural Resources Acquire FourPoint Energy

Maverick Natural Resources announced Dec. 2 that it has acquired FourPoint Energy in an all-equity merger, making Denver-headquartered FourPoint a wholly owned subsidiary of Maverick to be known as Unbridled Resouces.

Both Houston-based Maverick and FourPoint are controlled by EIG Global Energy Partners, large scale energy investor headquartered in Washington, D.C. The acquisition also included MidPoint Midstream and Wheeler Midstream, which provide midstream services in the Western Anadarko Basin.

Unbridled brings with it the production of about 50,000 net barrels of oil equivalent per day from Western Oklahoma and Northern Texas from acreage that spans 700,000 acres across the core of the Granite Wash and Cleveland Sand plays.

Gibson, Dunn & Crutcher advised the financial advisor Houlihan Lokey with a team led by Hillary Holmes that included Houston associate Monika Kluziak.

Maverick CEO Chris Heinson said the decision to rename FourPoint was an important detail. “By renaming FourPoint Energy to Unbridled Resources, we are signaling a shift from the traditional shale model to Maverick’s margin-focused operational strategy. These assets add to Maverick’s substantial portfolio of long-lived assets. Further, the all-equity transaction ensures the combined Company will retain a healthy financial position with a 2020 pro forma debt to EBITDA ratio of approximately 0.5x.”

Locke Lord Advises Encap in $300M Commitment to Humble Midstream

Humble Midstream announced Dec. 1 that it had secured a capital commitment of $300 million from San Antonio-based EnCap Flatrock.

Formed as an independent earlier this year by several midstream veterans, including Steve Huckaby of Meritage, Denver-based Humble Midstream expects to intends to target for development and acquisition midstream assets to link conventional and unconventional plays with their markets.

Locke Lord advised EnCap Flatrock with a team led from Houston by Eric Larson and Freddy Feldman. They were assisted by Bill Swanstrom, Jeff McPhaul, Michelle Gutierrez-Begin and Zac Horne, also Houston-based.

Tommy Waltrip, EnCap Flatrock managing director, said the decision to back Humble was based on several factors, including familiarity.

“We first partnered with Steve Huckaby in 2009 when we formed Meritage Midstream I together and believe he is one of the best leaders in midstream. He has built and been at the helm of four successful midstream companies, served in leadership positions at many others and has an excellent reputation across the energy industry.”

Besides San Antonio, Encap has offices in Oklahoma City and Houston, and manages investment commitments of nearly $9 billion.

Willkie, Latham Advise Caliche Energy in $150M Partnership with Orion

Caliche Development Partners has announced Dec. 2 the closing of a $150 million secured debt facility with Orion Energy Partners to support the completion of Gulf Coast terminal and storage facilities in Beaumont.

The construction will increase Caliche’s operational storage capacity to 8.0 million barrels. The storage facility will include a 3.0 million subsurface salt cavern for the storage of industrial gases, a commitment to energy’s transition to lower carbon emissions.

Willkie Farr & Gallagher counseled Caliche Development on the deal with a team led by partners Archie Fallon in Houston and Jorge Kamine in Washington D.C.

Latham & Watkins advised Orion Energy.

Based in Houston, Caliche is a portfolio company of Energy Spectrum Partners VII LP. Caliche acquired the partially completed storage complex in 2017 and currently owns and operates a 600-million-pound capacity ethylene storage cavern that supports multiple customers.

Dallas-based Energy Spectrum Partners was founded in 1995 by Thomas Whitener, James Benson and James Spann.

As the company’s chief compliance officer, Spann’s chief deputy, Ashley DeLuca is the senior management team’s only lawyer. She’s an economics graduate of the University of Oklahoma and with a 2009 JD from the University of California at Berkeley School of Law.

Headquartered in New York, Orion has a major presence in Texas including offices in Houston. Zhao Yang, Orion’s vice president and senior counsel, advised Orion while an associate at Latham.

Crossplane Capital Announces Griffin Dewatering Acquisition

Dallas-based Crossplane Capital announced Dec. 2 the completion of their acquisition of Griffin Dewatering, an industrial scale groundwater provider for construction sites, power generation and other industrial infrastructure needs. Terms of the transaction were undisclosed.

Founded in 1934, Griffin Dewatering is headquartered in Houston with 11 locations throughout the country offering design, engineering, permitting and installation of specialized pump equipment, water mitigation and water treatment management and design.

An affiliate of the CapStreet Group, Griffin was advised in the transaction by Willkie Farr & Gallagher The CapStreet Group. The deal was led by Houston partners Angela Olivarez and Bruce Herzog.

In October, Herzog was also involved data company Ontellus in their acquisitions of INTERTEL and MasterTrace. Ontellus is also CapStreet-backed.

“We believe Griffin is a uniquely strategic business with unmatched experience and knowledge in its market, making it a very compelling investment for Crossplane,” said Mike Sullivan, managing director of Crossplane.

Winston Advises in Acquisition by Hospice Source

Hospice Source, a provider of medical equipment for the hospice market, has acquired the assets of Superior Healthcare Inc., a California source of oxygen and respiratory products.

Terms of the transaction, announced Nov. 23, were undisclosed.

Winston & Strawn advised Hospice Source, a portfolio company of Dallas-based Transition Capital Partners. Headquartered in Carrollton, TX. Hospice Source operates in 62 locations.

Founded in 1993, Transition Capital Partners, investors in over 45 lower middle market companies across diverse industries. TCP is affiliated with the Patterson Thomas Family Office.

CAPITAL MARKETS

Sunnova Closes $124M Offering as Baker Botts and V&E Advise

Sunnova Energy International announced Dec. 2 that it had closed an offering of more than 7 million shares of its common stock, including 3,500,000 shares held by Newlight Partners.

The company expects to have raised $123.9 million from their end of the public offering, which does not include any of the proceeds of stock sold on behalf of Newlight.

Baker Botts advised Sunnova on the deal with a team led by Houston partners Travis Wofford and Josh Davidson assisted by senior associate Sarah Dodson and associates Jack Chadderdon and Malakeh Hijazi, all of Houston. Also advising were tax partners Michael Bresson in Houston and Jon Nelsen in Austin, along with senior associate David Morris from Palo Alto. Houston partner Danny David also advised.

Vinson & Elkins advised the underwriters of the transaction with a team led by partner David Oelman and senior associates Crosby Scofield and Anne Peetz with assistance from associates Audrey Bartosh and Natalie Stanley. Partner David Cole and counsel Debbie Duncan provided tax advice. Also advising on the matter was counsel Damien Lyster.

Goldman Sachs, BofA Securities, J.P. Morgan and Credit Suisse were joint book-running managers for the offering. Baird, Roth Capital Partners, Simmons Energy, B. Riley Securities, JMP Securities, KeyBanc Capital Markets and Raymond James were co-managers.

The offering included a total of 7,525,000 shares par priced at $0.0001 per share. The company offered 3,500,000 shares of its own to the public along with 3,500,000 of the Newlight shares, priced at $37.00 per share.

The underwriters were granted a 30-day option to purchase 525,000 shares, which if exercised would raise the value of the sale to $142.6 million.

An alternative energy utility based in Florida, Sunnova says it intends to use the net proceeds to purchase solar equipment and to redeem $39 million in 9.75% convertible senior notes due 2025.

Sunnova Securitizes $254M in Contracts, Again with Baker Botts

In addition to its stock offering, Sunnova also announced a $254.7 million securitization of leases and power purchase agreements.

The transaction includes two tranches that include $209.1 million in A- (sf) rated 2.73% notes and $45.6 million in subordinated BB- (sf) rated 5.47% notes.

The notes are backed by a company portfolio of 13,000 solar rooftop systems distributed across 19 states, Guam, Puerto Rico, and the Commonwealth of the Northern Mariana Islands.

The notes are secured by cash flow generated from the company’s subsidiaries and the sale of renewable energy credits. Each such subsidiary owns a managing member interest in a project company, two of which are tax equity partnerships.

Working with Sunnova in-house counsel Walter Baker and Margaret Fitzgerald, Baker Botts again advised Sunnova on the securitization with a team led by partners Travis Wofford and Natasha Khan from Houston and Martin Toulouse in New York. Their corporate team included senior associate Sarah Dodson and associates Gita Pathak, Catherine Ellis, Shumaila Dhuka and Daniel Jung, all in Houston, as well as Josh Espinosa in Dallas.

Tax advice was provided by partners Michael Bresson and Renn Neilson in Houston and Jon Nelsen in Austin. Senior associates Bucky Brannen in Dallas and David Morris in Palo Alto also chipped in. Others included special counsel Krisa Benskin and partner Danny David in Houston, as well as lawyers in San Francisco, Washington, D.C. and New York.

Latham, V&E Advise as CNX Closes $500M Notes Offering

Pittsburgh-headquartered CNX announced Nov. 30 that it had closed its offering of $500 million in senior unsecured notes.

The notes, due 2029, bear 6.00% interest.

Latham & Watkins represented CNX Resources Corporation in the offering with a Houston based corporate team led by partner David Miller, with associates Monica White, Clayton Heery, Evann Hall, and Anthony Tan. Advice was also provided on tax matters by Houston partners Tim Fenn and Jim Cole, with associate Marianne Standley; and on environmental matters by Houston partner Joel Mack, with Los Angeles counsel Joshua Marnitz.

The initial purchaser of the notes was advised by Vinson & Elkins with a team led mostly from Houston by Doug McWilliams, David Stone and Thomas Zentner. Pitching in were senior associates Raleigh Wolfe and Andrew Schulte and associates Todd Hartis, Jordan Fossee and Miles Fortenberry.

Also advising were partners Wendy Salinas and James Meyer and associate Liz Synder (tax); partner Casey Hopkins and senior associate Lindsay Hall (environmental); and senior associate Alexander Kamel and associate Danial Abbasi (finance).

The notes are guaranteed by all of CNX’s wholly owned domestic restricted subsidiaries that guarantee its revolving credit facility. CNX intends to use the net proceeds of the sale of the Notes for general corporate purposes, including to repay existing indebtedness under that revolving credit facility.

CNX Resources Corporation operates in the major shale formations of the Appalachian basin. And as of the end of 2019, CNX had 8.4 trillion cubic feet equivalent of proved natural gas reserves.

Latham Advises Magellan Midstream on $300M Offering

Tulsa-based Magellan Midstream Partners on Dec. 2 announced pricing of $300 million in 3.95% senior notes due 2050.

The notes are additional ntoes to the series originally issues in Aug. 2019 and were priced at 109.678% of par with a re-offer yield of 3.418%. The offering is expected to close on Dec. 16.

Latham & Watkins is advising Magellan Midstream in the transaction with a corporate deal team led by Houston partner Ryan Maierson, with associates Kevin Richardson, Clayton Heery, and Drew West. Advice was also provided on tax matters by Houston partners Tim Fenn and Bryant Lee, with associates Michael Rowe and Emily Fawcett; and on environmental matters by Houston partner Joel Mack and Los Angeles counsel Joshua Marnitz.

Wells Fargo Securities, Barclays Capital Inc., PNC Capital Markets, TD Securities and Truist Securities, Inc. are joint book-running managers for the debt offering, with J.P. Morgan Securities, Mizuho Securities USA, RBC Capital Markets, SMBC Nikko Securities America, Inc. and U.S. Bancorp Investments, Inc. acting as co-managers.

As V&E Advises, Reata Pharmaceuticals Closes $282M Public Offering

Reata Pharmaceuticals Inc. Dec. 1, closed its public offering of 2 million shares of the company’s Class A common stock at $140.85 per share, or $281.7 million.

Reata has also granted the underwriters a 30-day option to purchase 300,000 additional shares of its Class A common stock at the same terms as the public offering.

The company was advised by Vinson & Elkins with a team led by partner Robert Kimball with assistance from senior associate Katherine Frank and associates Grace-Ann Duquette and Joseph Steuert. Wendy Salinas and assciate Liz Snyder advised on tax matters.

Barclays Capital Inc. and Goldman Sachs & Co. LLC are acting as joint book-running managers.

Kimbell and V&E have been advising Reata, most recently in October when the Plano-based company received a $350 million investment from Blackstone Life Sciences. The company’s GC, Michael Wortley, is a former V&E partner.

Reata is a clinical stage biopharmaceutical company that develops novel therapeutics by targeting the molecular pathways in the human body utilized both by its natural metabolism and infectious disease. Its two most advanced investigational drugs for clinical use are bardoxolone methyl and omaveloxolone.

Gibson Again Advises Contango on Private Placement of $22 Million 

Houston headquartered Contango Oil & Gas announced Nov. 30 the close of a private placement of 14.2 million shares of its common stock to a group of institution and accredited investors, none of whom were immediately disclosed.

The equity capital raise brought $22 million which the company says it intends to use to finance the acquisition from an undisclosed seller of assets in the Big Horn, Permian and Powder River Basins.

Gibson Dunn & Crutcher advised Contango in the offering with a team led by Houston partner Hillary Holmes that included associates William Bald in Houston and Michael Mencher in San Francisco.

In late October Gibson advised Contango in the company’s merger acquisition with Oklahoma-based Mid-Con Energy in a $400 million all-stock transaction. Holmes co-led the Gibson team in that merger, including a $39.7 million private placement transaction to help fund the deal.

Contango is an independent that holds offshore properties in the shallow waters of the Gulf of Mexico and onshore properties in Texas, Oklahoma, Louisiana and Wyoming.

Allen Pusey

Allen Pusey is a senior editor and writer at The Texas Lawbook.

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