© 2013 The Texas Lawbook.
By Natalie Posgate
Staff Writer for The Texas Lawbook
Mounds of lawyers from Texas are involved in Atlas Pipeline Partners, LP’s $1 billion acquisition of Dallas-based TEAK Midstream, LLC that was announced Tuesday.
Jones Day is representing Pittsburgh-based Atlas, with Houston energy partner Jeff Schlegel as the lead attorney. Also assisting are Houston attorneys Darrell Taylor, Omar Samji, David Stringer, Matthew Hendrix, Mark Temple, Cassandra Mott, and Ryan Cicero; Dallas attorneys Jordan Bethea, Todd Wallace, Gary Short, Alexandra Wilde, Luke Jennings, Murrell Martindale, and Mellissa Kalka; and attorneys in Jones Day’s Chicago and Pittsburgh offices.
Thompson & Knight is advising TEAK, with Dallas partners Jeff Zlotky and Holt Foster as the lead lawyers. Other Dallas attorneys involved include David Wheat, Jesse Betts, Melissa Parsons, Emily Tubb, Anthony Campiti, Jason Loden, John Rain, Brandon Bloom, Michael Lii and Van Wiltz. Anna Irion and Lucas LaVoy from T&K’s Houston office are also assisting.
Atlas will acquire 100 percent of TEAK’s equity interests, and will pay for the acquisition with $1 billion cash and the issuance of $400 million of Series D Convertible Preferred securities.
TEAK is a midstream operator with gas gathering and processing facilities in the core of the Eagle Ford Shale. Its assets include a cryogenic processing plant and approximately 475 miles of gas gathering and residue pipelines. TEAK jointly owns approximately 235 miles of gas gathering, header and residue pipelines and 3 miles of NGL pipeline jointly with San Antonio-based TexStar Midstream Services, LP.
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