Frank Bayouth, a 30-year M&A partner at Skadden in Houston, has moved in-house to Five Point Energy to become the private equity firm’s general counsel.
Bayouth confirmed the move in an email early Thursday. He was head of Skadden’s Houston office.
Five Point has been a longtime client of Bayouth. He counseled the private equity firm and GSO Capital Partners in connection with the acquisition of equity interests in Twin Eagle Resource Management. In addition, he advised Five Point in the formation of the San Mateo midstream joint venture with Matador Resources Co.
Bayouth also counseled on some big M&A deals. He advised Devon Energy Corp. on its acquisition of 82,000 net acres in Texas’ Eagle Ford Shale from GeoSouthern Energy for $6 billion; Oneok Inc. on the spin-off of its natural gas local distribution company; and the special committee of the board of TPC Group Inc. on the $850 million contested leveraged buyout of TPC Group by First Reserve Corp. and SK Capital Partners.
Most recently, Bayouth advised Spring-based Southwestern Energy on its acquisitions of two companies last year: Yorktown-backed Indigo Natural Resources for $2.7 billion and Blackstone-backed GEP Haynesville for $1.85 billion in cash and shares. Those two transactions made The Texas Lawbook‘s top 10 M&A deals of 2021.
Bayouth earned a law degree from the University of Texas and an accounting degree from Texas Tech.
Five Point is focused on building businesses within the midstream and energy infrastructure sectors. The firm was founded by industry veterans David Capobianco and Matthew Morrow who have invested in, built and run midstream companies.
The firm targets equity investments ranging from $10 million to more than $500 million and has over $3 billion of capital under management across multiple investment funds.