If oil and gas producers (and their lenders, and their investors) seem ill-at-ease these days, it’s not imaginary. Haynes Boone’s Spring 2023 survey of the O&G deal community suggests they are pessimistic about the near-term availability of capital and are looking at a variety of sources to maintain growth and profitability — sources that increasingly include their own cash flow. This week’s CDT Roundup has the specifics of the survey, which included 96 top executives from the industry and the banks that lend to them. And, as usual, there are the names of the Texas firms and lawyers behind the 23 deals reported last week.
Omar Samji Departs Shearman for Weil
Omar Samji’s departure follows the recent high-profile exits of Hugh Tucker and Jeremy Kennedy who left Shearman for Haynes and Boone. Samji plans to tool his energy practice towards the rapidly-evolving transitional sectors, like decarbonization, that are gaining significant ground within the traditional oil & gas industry.
CDT Roundup: 16 Deals, 9 Firms, 173 Lawyers, $8.95B
Since the fall of Silicon Valley Bank, many eyes have been on the start-ups that became its raison d’etre. Unfortunately, those eyes have also been on wallets and purse strings, as a new Crunchbase study shows. Venture capital investments for Q1 2023 are down over the same period last year. Moreover, they’ve been trending down for each quarter since last year. The CDT Roundup takes a look at the numbers, as well as the M&A and CapM deals reported last week. There’s some good news in there — somewhere. You just have to look hard for it.
CDT Roundup: 7 Deals, 7 Firms, 78 Lawyers, $14B
It’s been five years since New York-headquartered Shearman & Sterling opened its first offices in Texas. The CDT Roundup thought it might be a good time to check in with Bill Nelson, the head of those Texas offices. His thoughts about the transition and the changes he’s seen in his practice are featured this week, along with a relatively skimpy roll call of the 78 lawyers who ignored spring break to turn in this week’s roster of deals.
CDT Roundup: 16 Deals, 11 Firms, 113 Lawyers, $3.3B
In dealmaking 2022 was no 2021. Still, the CDT Roundup reported a total of 778 deals during the 52 weeks just ended, and we can show you how the CDT Roundup’s year stacked up against last year’s record-smasher — not to mention the names of those Texas lawyers who worked before and during the holidays.
The Top 10 Texas M&A Deals of 2022
The year about to elapse may not have been a year for record-breaking deals, but it was a year of more than a few notable deals. Tracking the most important transactions is, at best, a fool’s errand. But here are ten deals that the CDT Roundup considers the most significant. Not everyone will agree with the choices, but they are worth arguing for or against as we toast the New Year.
CDT Roundup: 26 Deals, 11 Firms, 172 Lawyers, $12.7B
There’s no surprise in the fact that global PE deals are down. With inflation, market volatility and geopolitical concerns, investors have become increasingly cautious and borrowers increasingly concerned, according to a new Mergermarket report. But there are also indications that some underlying changes are taking place in the PE pipeline. This week’s CDT Roundup has more on the Mergermarket survey, as well as the usual roster of lawyers who reported deals last week.
CapM in Texas Struggled in H1 2022, H2 Not Looking Good So Far
A sticky stock market and lingering fears of inflation depressed capital markets transactions during the first half of 2022. But it may be premature to project the same fate for the second half of the year, according to Texas dealmakers. The Texas Lawbook explains.
Texas M&A Dealmaking Hits Another Record in H1 2022
Texas Corporate dealmakers thought there was no way 2022 could match the record number of M&A transactions they handled in H1 or H2 2021 – both were records. But new data from by The Texas Lawbook’s Corporate Deal Tracker shows M&A activity hit another record high during the first six months of 2022 – albeit by an inch or so.
The dollar value of transactions declined significantly from the year before because there were no megadeals announced by the likes of AT&T, Chevron or Match.com. As you might expect, the energy sector led the way. The Texas Lawbook has the data and insight from the experts.
CDT Roundup: 13 Deals; 8 Firms; 84 Lawyers; $1.8B
An animated bouncing ball may be needed to follow the transactions market these days. M&A for the first quarter is down worldwide 23 percent by volume over last year, while deals over $10 billion are up twice that. More on those trends in the weekly CDT Roundup, along with a relatively slim roster of Texas dealmakers reporting last week.