The stocks of oil and gas exploration and production companies have been selling off recently, with one index down by around 18 percent so far this month. That’s led some industry observers to believe that mergers could begin to accelerate. And in Texas, there was a slight uptick in activity last week. The Lawbook’s Claire Poole has it covered.
Texas lawyers from three different firms had a hand in Denbury Resources’ $1.7 billion purchase of Penn Virginia Corp., the first of what’s expected to be a wave of mergers between publicly traded oil and gas producers. Claire Poole has the details in The Texas Lawbook.
Texas dealmaking slowed a bit last week, but continued the recent brisk tempo. Don’t be surprised if there is a significant uptick in the making. The recently released Dykema survey reveals remarkable optimism for M&A activity in the coming year. The Lawbook’s Claire Poole explains.
Baker Botts aids WorleyParsons on $3.3B purchase of energy, chemicals and resources segment from Jacobs
Jacobs Engineering Group Inc. of Dallas announced Monday that it agreed to sell its energy, chemicals and resources segment to Australia-traded WorleyParsons Ltd. for $3.3 billion. The move makes WorleyParsons the world’s biggest provider of professional services in energy and resources. Claire Poole explains.
“Our office has a strong history with the Houston Food Bank and we were honored to partner with them and Houston Restaurant Weeks to help provide over 40,800 meals to those in need. The Houston Food Bank works tirelessly for our community and we are happy to be a small part of their success.” – Tim Fenn, Latham’s Houston Office Managing Partner
The Lawbook’s Claire Poole had a chance to speak with Quantum president Dheeraj Verma, known as “D,” about the role of private equity in the current marketplace, and much more.
Texas had a decent week for dealmaking last week, both in volume and value. But in the larger market there are signs that things might be slowing down.
Texas’ largest electricity transmission and distribution company, Oncor Electric Delivery Co., announced Thursday that it was acquiring InfraREIT Inc. for $1.275 billion and four law firms in Texas helped make the deal go.
According to DrillingInfo, third quarter 2018 surged over the second with some of the highest U.S. gas and oil activity since late 2012. Get more insight and details of last week’s transactional activity in Claire Poole’s Corporate Deal Tracker Roundup in The Texas Lawbook.
Rowan Cos. of Houston and Ensco of London announced they would merge on Monday in an all-stock deal with an enterprise value of $12 billion, creating the largest offshore driller in the industry.