Kirkland & Ellis and Vinson & Elkins advised on the upstream/midstream deal which includes more than 300,000 acres and a 950-mile gathering system. It marks the third major upstream transaction by Houston-based EnCap Investments in the past month.
Akin Lands CapM Partner from Kirkland
Bryan Flannery is the fourth corporate partner lateral recruit to Akin’s Houston office over the last two months. He has advised on multiple billion-dollar deals this quarter.
CDT Roundup: 13 Deals, 16 Firms, 214 Lawyers, $9.9B
There were three billion-dollar transactions last week: a shale E&P deal, an offshore drilling acquisition and a midstream divestiture. All were in energy, but they had something else in common: they are part of an on-going consolidation in nearly every phase of energy production. The CDT Roundup takes a look at what these latest deals tell us, along with the usual summation of last week’s transactions and the lawyers and firms behind them.
Phillips 66 Sells Stake in Rockies Express Pipeline for $1.275B
Bracewell and Vinson & Elkins advised Phillips 66 and Tallgrass, respectively, on the deal which advances the P66’s determination to divest itself of $3 billion in non-core assets. On the buyer side, Tallgrass now holds total equity ownership in one of the largest natural gas pipelines in the U.S.
Matador Inks $1.9B Bolt-On Deal with EnCap for Delaware Basin Assets
The two sides were counseled by Baker Botts and Vinson & Elkins, much as they were in a similar transaction in 2023. The bolt-on transaction includes an interest in Piñon Midstream, a pipeline and gas treatment operation that expands Matador’s operational footprint in New Mexico and West Texas.