Methane emissions are a sticky business in Texas, especially in the Permian where the colorless, odorless substance is simply a by-product of exploration and production for oil and gas on a massive scale. An $88 million satellite set into orbit in March, however, has begun to visualize and quantify the problem. The picture isn’t pretty. But situation is complicated, as the CDT Roundup reports this week — along with its usual survey of transactions.
How 2024’s Megadeals have Slowed In-House Legal Hiring in Texas’ Energy Sector
While these megadeals promise efficiency gains and economies of scale, they’ve had a chilling effect on one critical area: in-house legal hiring. Consolidation has temporarily shifted priorities, leaving legal teams focused on deal execution, integration, compliance and cost-cutting.
CDT Roundup: 14 Deals, 12 Firms, 139 Lawyers, $2.1B
Elections mean change, and change is good, right? Maybe so, but there are concerns that a new administration might be inclined to make dramatic changes in policies regarding energy and manufacturing that have been the basis for billions in equity investments. Comments made by the president-elect shortly before the election have some worried that the seemingly uncontroversial CHIPS and Science Act could be in the crosshairs. The CDT Roundup looks at that concern and what the CHIPS Act has meant already to Texas. That and the usual roll call of last week’s transactions.
David Aaronson Moves to O’Melveny
Aaronson, a veteran of O&G transactions in the upstream and midstream sectors, departs Orrick where he landed in 2022.
Joint Ventures Demystified — A Practitioner’s Guide to Structuring Successful Partnerships
In today’s global business environment, market participants continuously seek innovative ways to grow their businesses, obtain capital to execute their business plans and leverage shared resources. One popular strategy is forming a joint venture, which is a business arrangement where two or more parties pool resources to achieve a common commercial goal. Structuring a JV is complex, and success hinges on careful planning, negotiation and management, as poorly structured JVs can lead to conflicts, inefficiencies and ultimately failed outcomes.
This article explores several key issues to be addressed when forming a joint venture and provides a roadmap for avoiding some common pitfalls that derail many partnerships. By carefully defining a JV’s scope, negotiating for appropriate consent rights, protecting against leakage from affiliate agreements, addressing fiduciary duties and establishing clear transfer provisions, parties can create a JV structure that helps to ensure alignment and maximizes the likelihood of success for all involved.
CDT Roundup: 12 Deals, 11 Firms, 107 Lawyers, $52.8B
A $50 billion data center joint venture is nothing to ignore. Neither are the footnotes that occasionally accompany a monumental deal. The CDT Roundup this week looks at the big numbers that are building up around AI-driven data centers, and a few tiny cautions about what to expect of them. FYI, we didn’t ignore our usual roster of last week’s deals — even those under $50 billion.
Kirkland Advises on $1.25B Sale of EQT Marcellus Assets
The purchase follows — and completes — a swap agreement announced in April in which EQT exchanged a 40 percent interest in those same assets for Equinor’s assets in the Appalachian Basin and $500 million in cash.
Seyfarth Snags Energy Trio from Polsinelli
Partner Chris Cottrell and associates Michael Szymanski and Xiaoming Gao will launch an energy transition practice at the firm’s Houston office.