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Downstream energy company Delek US Holdings said Tuesday that it will beef up its presence in the Permian Basin by combining with Dallas-based Alon USA Energy, an independent refiner and marketer of petroleum products that owns a refinery in the Big Spring area of West Texas.
Corporate bankruptcies in Texas jumped more than 40 percent in 2016 and are up 80 percent during the past two years, according to new data research by Androvett Legal Media. Analysts attribute the increase in business bankruptcies to turmoil in the oil and gas sector. More than 150 oil and gas companies filed for bankruptcy in 2016 – 71 of them were exploration and production operations with a cumulative debt of $56.8 billion, according to Haynes and Boone’s Oil and Gas Bankruptcy Monitor. The Texas Lawbook has all the data and analysis, including a predict that the next round of business bankruptcies may extend far beyond the energy sector.
Gainesville-based Select Energy Services turned to Texas’ two most prominent energy law firms to advise the company in its private placement of 16,100,000 shares of its Class A-1 common stock for aggregate gross proceeds of $322 million.
Gainesville-based Select Energy Services turned to Texas’ two most prominent energy law firms to advise the company in its private placement of 16,100,000 shares of its Class A-1 common stock for aggregate gross proceeds of $322 million.
Andrew Calder and the M&A team at Kirkland & Ellis helped Houston-based Alta Resources Development add two shiny new assets under the shale oil and gas developer’s Christmas tree.
Alberta Investment Management Corp. (AIMCo) has agreed to purchase a 28 percent ownership stake in San Antonio-based Howard Energy Partners from its EnLink Midstream Partners, AIMCo said Tuesday. Both companies turned to a group of Houston lawyers to handle the deal.
Houston blank check company KLR Energy said Tuesday that it will combine businesses with Tema Oil and Gas Co., a fellow Houston company with assets in the core of the Delaware Basin, for $400 million.
Lawyers for Akin Gump and Vinson & Elkins said Tuesday that they recently facilitated a deal between Oklahoma City-based Gulfport Energy Corp. and a Quantum Energy Partners portfolio company involving Oklahoma’s SCOOP region.
Lawyers for Akin Gump and Vinson & Elkins said Tuesday that they recently facilitated a deal between Oklahoma City-based Gulfport Energy Corp. and a Quantum Energy Partners portfolio company involving Oklahoma’s SCOOP region.
Associates and partners across Texas law firms are feeling the holiday cheer as year-end bonuses hit their paychecks or firmwide profits get distributed. A group of lawyers from Vinson & Elkins, Latham & Watkins and Andrews Kurth Kenyon might be hearing the holiday bells ringing just a little louder with a $392 million IPO that closed Monday for a Houston upstream company and a new IPO filing for a Denver-based company that could raise $100 million – if not more.
Ken Paxton has spent more than two years fighting alleged regulatory overreach by the Obama administration and against allegations that he violated state and federal securities laws. The Texas AG is famous for building walls blocking out the news media. He has been known to duck out back doors at events, walk away from reporters asking about his court case and once even leaked a story accusing a reporter of stalking him. Now, he's talking. Why? The Houston Chronicle has the story.
Boone Pickens isn’t the only person to recently grace the tiny town of Pecos with his presence in search of some oil. Midland-based Diamondback Energy said Wednesday that it is purchasing $2.43 billion worth of assets in West Texas’ Reeves and Pecos counties from Brigham Resources Operating and Brigham Resources Midstream.
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