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Texas deal attorneys were active this past week, with 17 firms and 157 lawyers working on 23 deals worth $7.1 billion. The deals ranged from mergers to asset divestitures to joint ventures to equity and debt issues to private equity commitments all across the oil and gas spectrum. Claire Poole has the details in her weekly roundup.
Amid the volatility of the financial markets on Tuesday, two billion-dollar deals were announced that involved three different Texas law firms - Baker Botts, Bracewell and V&E. One deal is more certain, the other not so much.
Deal count was up by five transactions versus the previous week. But the deal value was down by 31.7 percent over last week’s $12.6 billion--even counting a large October notes issue whose lawyers weren’t revealed until last week. Claire Poole’s weekly Deal Tracker Roundup recounts all the deals, all the details and all the numbers behind them in The Texas Lawbook.
Last week Texas dealmaking continued apace: an energy-related IPO moved forward, two joint ventures were inked, a bankruptcy was filed and oil and gas asset sales continued. In addition, there were fundings of a healthcare company and an oil and gas explorer as well as a private equity firm purchase of an oilfield services company. Does any of this mean that the energy sector has officially turned around? See what Claire Poole has to say in her weekly Deal Tracker Roundup in The Texas Lawbook.
A surge in deal-making over the last few weeks has observers believing that 2018 may be a strong one. Tax reform and a rise in oil prices fueled a week that saw 129 Texas lawyers from 15 different firms and in-house teams working on 19 transactions worth $9.4 billion. That was up considerably from the previous week when 49 Texas lawyers worked on 10 transactions worth $6.28 billion. Claire Poole has her weekly update in The Texas Lawbook. and the news is good.
It was clearly back to work for Texas attorneys in the second full week of January with eight firms working on ten transactions worth a total of nearly $6.3 billion. As she does each week, Claire Poole has all the details in The Texas Lawbook.
USA Compression Partners announced a $1.8 billion deal to acquire CDM Resource Management from Energy Transfer Partners. It’s a complicated deal and, therefore, involved lots of Texas lawyers. Claire Poole explains in The Texas Lawbook.
A noticeable lull in IPOs was broken last week by the revival of an issue postponed last year. Denver-based Liberty Oilfield Services not only revived the issue, it increased the size, suggesting to some that there is renewed equity demand from investors for energy companies. Claire Poole outlines the good news in The Texas Lawbook.
Texas businesses were on track last year to challenge 2014 as the best year ever for M&A, but then dealmaking slowed considerably in the fourth quarter. Mergermarket reports deal count during the final three months of 2017 dropped 13.3 percent from the third quarter and deal value plummeted 55 percent. The Texas Lawbook also reports the 25 largest M&A deals of 2017.
Fueled by Dominion Energy's Jan. 3 agreement to purchase Scana for $14.6 billion, the first week of transactions for the new year was a strong one. Claire Poole has the names, the firms and all the numbers in her weekly roundup in The Texas Lawbook.
The final week of 2017 stayed true to history: the numbers were low and the activity was slow. Weatherford International led the deals with an important surprise involving a previously announced joint venture with Schlumberger. Claire Poole has the specifics and the stories behind them in The Texas Lawbook.
Texas lawyers, 113 of them from 15 firms, ran out of ribbon trying to wrap up deal-making before the end of the holidays and the end of 2017. There were brands like McDermott and Chicago Bridge & Iron, with international connections and Texas ties. Claire Poole has the details in The Texas Lawbook.
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