Two Texas buddies from high school and college have made millions together in the oil & gas business under the name Double Eagle. In fact, they’re still making deals. The CDT Roundup details their latest venture, as well as the deals reported by Texas lawyers last week.
Dealmaking is hard enough in the simplest of times. Try putting one together when you’re in the process of changing firms. Angela Olivarez did exactly that, pulling off a complex technology deal while switching from Willkie to O’Melveny. Read what she tells the CDT Roundup about the experience, along with the usual list of last week’s Texas-made deals.
V&E advised the buyer, who plans to fund the purchase using available cash and debt within its targeted leverage ratio.
The firm has long advised the company. Harold Hamm’s offer represents a nearly 10 percent premium over Continental’s closing price yesterday.
With oil and gas prices high, older established fields are seeing a renaissance. That may explain recent deals involving North Dakota’s Williston Basin. This week’s CDT Roundup looks at what makes the Williston attractive, along with the firms and lawyers involved in deals there and elsewhere.
Last week brought a surprise: James Chenoweth, one of the most active tax advisors in Texas M&A, left Gibson Dunn. The bigger surprise is where he went. The CDT Roundup has that, and the usual roster of the week’s Texas dealmakers.
The consideration includes giving the infrastructure fund a stake in SunPower. Texas lawyers from Latham advised on the deal.
Last week saw something not seen for awhile: the IPO debut of an oilfield services company. The $288 million deal was a bit below target, but it may have signaled investor interest in something too often unfamiliar in the industry: capital discipline. The CDT Roundup has details on that deal, as well as the usual weekly deal rosters.
Texas lawyers from Latham and Kirkland worked on the deal, which the parties claim will create the largest pure-play exploration and production company in the Permian’s Delaware Basin.
A volatile stock market has economists uttering the “R” word: Recession. And while most analysts are discounting the likelihood of full-blown downturn, Andrew Akers of PitchBook has three scenarios that could affect dealmaking for the near future. Those possibilities, and a review of last week’s deals in the CDT Roundup.