Western Midstream to Acquire Aris Water Solutions for $1.5B
Vinson & Elkins and Gibson Dunn advised on the deal, which extends Western Midstream's reach for critical water resources into Eastern New Mexico.
Oxy, ConocoPhillips Announce Profits, Deals and Debt Reduction
Two major energy companies announced earnings Wednesday and both revealed upstream deal activity valued at more than $2 billion. ConocoPhillips announced a $1.3 billion sale of assets in the Anadarko Basin, which was advised by Haynes Boone.
Brookfield Acquires 19.7% Stake in Duke Energy Florida for $6B
Global investment firm Brookfield Asset Management acquired a 19.7 percent stake in Duke Energy Florida for $6 billion. The utility plans to use proceeds to further its energy modernization strategy and reduce debt. Kirkland & Ellis and Skadden Arps advised.
Corporate Directors and Officers — Fiduciaries or Discretionaries?
I have enjoyed the privilege of being a chaired professor at Southern Methodist University for over 35 years. That’s a good run, which I hope to keep going for a long while. In teaching my corporate and securities law courses during that time, a key principle arises with frequency — namely, that corporate directors and officers are fiduciaries. These fiduciaries are charged with acting in their respective corporation’s best interests with due care and loyalty. If they fail to do so — according to the rhetoric — they will be held accountable and subject to liability exposure. But is this merely rhetoric without substantive content? Is the term fiduciary a misnomer? In my new book, I answer these questions with a resounding “yes.”
CDT Roundup: AI’s Energy Appetite Continues to Fuel Tech, O&G Deals
The week ending Aug. 2 saw 17 transactions reporting values of $19 billion. You can compare that to last week's 15 deals for $3 billion or the 26 deals for $16 billion we reported this time last year. The news this week is the same news last week: It's all about AI infrastructure. The good news is that even those deals cut a healthy swath across emerging data-related business sectors. That and more in this edition of CDT Roundup.
ECP, KKR Announce $4B Data Campus in Texas
Marking their first investment in a $50 billion joint venture campaign announced last year, Energy Capital Partners and KKR said Friday they are investing $4 billion into the development of a data center campus in Bosque County, about 75 miles southwest of Fort Worth. Kirkland & Ellis advised on the JV.
MPLX Acquires Sour Gas Operator from Five Point for $2.375B
MPLX said Friday it has agreed to pay $2.375 billion in cash to Houston-based Five Point Infrastructure for Northwind Delaware Holdings, a New Mexico sour gas gathering, treatment and processing service operating in the Permian Basin. Latham & Watkins advised Five Points on the transaction.
Quanta Services Acquires Dynamic Systems for $1.35B
Seeking to expand its presence in the surge of data center development, Quanta Services, a Houston-based platform for industrial energy and power services, announced Thursday the completion of its acquisition of mechanical and plumbing specialists Dynamics Services for $1.35 billion. King & Spalding advised on the deal.
Baker Hughes to Buy Chart Industries in $13.6B All-Cash Deal
Baker Hughes said on Tuesday it has agreed to acquire Chart Industries for $210 a share in cash, or about $13.6 billion, as the Houston energy technology company furthers its expansion in liquified natural gas and data centers. Also Tuesday, Irving-based Flowserve Corp. said it terminated its offer to acquire Chart because the Baker Hughes offer is a “superior proposal.”
Paul Hastings Continues TX Growth Play with Energy M&A Hire
Peter Hays has had a career-long focus on onshore and offshore energy and a practice spanning both domestic and international markets.
CDT Roundup: Watt a Week as Deals Spark Up Power and Security
The week ending July 26 saw 15 transactions for just over $3 billion, which doesn't sound like much. The volume is akin to the week before, in which 14 deals were reported for $6 billion. But both pale against the 19 transactions for $16.4 billion reported last year. The plain truth is that transactions in M&A dwindled in Q2 and have stayed dwindled in the first few weeks of Q3. But take heart; Q2 was the weakest quarter in Texas M&A deals last year and the year before. But there was plenty of diversity in the mix.
One Big Beautiful Bill Disrupts Clean Energy Investment
The bill’s enactment dramatically shifts the landscape for renewables and energy transition investments. The law is expected to have a significant impact on investment in Texas, which is among the top producers of wind and solar generated electricity in the country.
