Advised by Kirkland, Skadden and others, the deal has deep ties to a number of critical Texas energy and infrastructure projects. The Lawbook has the details, as well as the names of lawyers involved.
Chesapeake and Southwestern to Merge in $7.4B Deal
Advised by lawyers from Kirkland & Ellis and Latham & Watkins, the deal brings to NG and LNG the same kind of billion-dollar consolidations taking place among major holders in the Permian Basin.
TG Natural Resources Acquires Rockcliff Energy II for $2.7B
Lawyers from Vinson & Elkins and Kirkland & Ellis advised on the transaction which further consolidates gas production feeding the LNG terminals along the Gulf Coast of Texas and Louisiana.
V&E and Latham Advise on Oxy’s $12B Acquisition of CrownRock
Oxy’s acquisition of the Midland-based independent, which includes the assumption of $1.2 billion in CrownRock debt, further consolidates Oxy’s prime perch in the productive Permian Basin. The Lawbook has the names of all 72 lawyers involved in the deal.
Texas M&A Firm Rankings
Canadian Marine Logistics Provider Logistec to Go Private in Deal with Blue Wolf, Stonepeak
Blue Wolf Capital and Stonepeak announced Monday that they are acquiring the Canada-based shipping specialists Logistec in an all-cash deal that values the company at $1.2 billion. Sidley advised Stonepeak on the transaction.
The Real Energy Transition
Energy is still king in Texas M&A, despite the diversification of the Texas economy and the rise of technology and manufacturing and infrastructure. ExxonMobil’s decision to buy Pioneer Natural Resources for $59.5 billion is exhibit A. Still, energy deals have been fading in recent years as a share of the overall M&A market: from a 42 percent share of the overall Texas deal count in 2020 to only 32 percent this year, according to The Lawbook’s exclusive Corporate Deal Tracker. But while capital markets have retreated from investment in hydrocarbon development, energy transition is gaining traction in a way that is transforming Texas energy M&A. And even traditional oil and gas is beginning to reap the benefit.
WTF Does ESG Really Mean for M&A?
Panelists from five firms at the UT Law M&A Institute on Thursday concluded that ESG issues, both financial and legal, are moving toward greater focus in M&A transactions; perhaps at different paces depending on industry or geography, but evolving nonetheless in ways that need the attention of lawyers.
Civitas to Acquire $2.1B in Permian Assets from Vitol’s Vencer Energy; Kirkland and Latham Advised
Vowing to pursue a net-zero emissions strategy when it was formed just two-and-a-half years ago with the merger of two Denver-based producers, Civitas has been aggressive in its acquisition of assets in the Permian and Denver-Julesburg Basins. And Vitol, a global energy giant, has been an active player in virtually every energy platform available in the U.S. Lower 48.
A New JV has Astros and Rockets Playing Ball — Together
With the announcement of a joint venture between the Houston Astros and the Houston Rockets, Houston sports fans can breathe a sigh of relief that, at least, for the immediate future they will be able to witness live sports on live TV. But a bankruptcy filed in March in Houston remains the center of similar sports storms in cities from New York to San Diego.