© 2013 The Texas Lawbook.
By Natalie Posgate
Staff Writer at The Texas Lawbook
It’s been a busy week for corporate lawyers at Baker Botts.
The firm announced today that it is representing two Houston-based energy companies in separate deals.
One is Carrizo Oil & Gas, Inc. in its $268 million sale of assets in the Barnett Shale, East Texas and Marcellus Shale. The other is Halliburton Company’s joint venture with Canadian drilling rig operator Trinidad Drilling International on overseas drilling projects.
The firm is not new to representing either of these companies.
Last year, it represented Carrizo in a $190 million sale to a portion of its Barnett Shale assets to Atlas Resource Partners. And in 2005, Baker Botts helped Halliburton complete a $5.33 billion mass-tort restructuring that was tied to asbestos and silica claims. It was one of the largest restructurings in history of its kind.
Baker Botts M&A partner Gene Oshman is leading Carrizo’s transaction, with assistance from partner Denmon Sigler and associate Rocio Mendoza – all from the firm’s Houston office. In-house Carrizo lawyers involved include General Counsel Gerry Morton and Associate General Counsel Marcus Bolinder.
In the transaction, Carrizo is selling its remaining Barnett Shale properties as well as non-core assets in the Camp Hill Field in East Texas and the Marcellus Shale. Messages left with Carrizo’s investor relations department and chief financial officer were not returned Wednesday in regard to who is buying these assets.
In the Halliburton deal, corporate partners Kelly Rose of Houston and Stephen Matthews of Dubai are the lead attorneys, with significant assistance from senior associate Jim Marshall and associate Carina Antweil, who are both based in Houston.
Attorneys from the firm’s Washington, D.C. and Brussels, Belgium offices are also involved in the matter. Halliburton in-house lawyers involved include Assistant General Counsel Robert Hayter, Holly Soehng, David Forson and Steve Axler.
Initially, Halliburton and Trinidad’s joint venture will concentrate on projects in the Kingdom of Saudi Arabia and Mexico, but there will be future growth opportunities in other international markets. Halliburton will own a 40 percent stake in the venture, and Trinidad will own the remaining 60 percent. The venture will conduct drilling under Trinidad’s name.
The two companies so far have committed an estimated $120 million to provide four rigs for work in Saudi Arabia – Trinidad committing $72 million, and Halliburton the other $48 million.
Legal counsel for Trinidad in the matter is the Canadian business law firm Blake, Cassels & Graydon.
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