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.
CDT Roundup: 19 Deals, 13 Firms, 239 Lawyers, $23.9B
Over the last few years, this space has seen more than a few deals involving Morgan Lewis Houston partner Jeff Dinerstein and his client Park Lawn, Inc., the Toronto-based purveyor of funerals, cremations and such. With the news this week that Park Lawn has agreed to be acquired for $1.2 billion, the CDT Roundup decided to review a few of Dinerstein's deals. And, of course, we include the usual summary of the lawyers and firms behind transactions reported last week.
Kirkland, Paul Weiss lead $1.6B deal between Noble and Diamond Offshore
In yet another stock-and-cash deal this year in the energy sector, Sugar Land-based Noble Corp. plans to purchase Houston-based Diamond Offshore Drilling by paying a premium of 11.4% per share. When the deal closes, Diamond shareholders will own 14.5% of Noble’s outstanding shares.
Dallas Dealmaker John Willding Jumps to Stinson
In a Q&A with The Lawbook, Willding describes recent deals he has handled, elaborates on a “significant pickup” in middle-market M&A deals, and identifies other trends he is observing
CDT Roundup: 12 Deals, 11 Firms, 147 Lawyers, $34.5B
The ongoing once-in-a-generation wave of oil & gas consolidation has gained serious momentum, as witnessed by the $22.5 billion merger agreement reached last week between ConocoPhillips and Marathon Oil. What's driving it? The Roundup's Claire Poole tops off her weekly summary of Texas-related dealmaking with a roundup of factors behind the recent proliferation of big energy deals, and takes a bonus look at the prospect that they could lead to more.