CDT Roundup: A Week of Energy Deals, Suicide Drones, Cybercurrency PIPES and Another $20B

Yes, the streak is still alive: for five weeks in a row transactions have totaled more than $20 billion. The menu of deals reported last week was heavy on power and energy entrees. There was a $19 billion merger of fluid motion control products. A simpler $4 billion upstream deal. A midstream JV buyout. Another JV formed. And a whole new energy E&P funded with some familiar faces. A deal for emergency power grid infrastructure services. And another for a power plant rehab firm. But there were also some interesting side dishes.

June 9, 2025 Allen Pusey

Flowserve, Chart Industries Agree to Combine in $19B Merger

The combination expects to exploit the growing demand in energy and data infrastructure, particularly in the lucrative aftermarket for upgrades in industrial fluid controls. Cravath and Winston & Strawn advised on the deal.

June 5, 2025 Allen Pusey

Atma Kabad Moves from Kirkland to Gibson Dunn

While at Kirkland the capital markets partner worked with such clients as Orix, Marathon Oil, Kimmeridge Texas Gas and Omat Technologies.

June 3, 2025 Allen Pusey

Diamondback/Viper to Acquire Sitio Royalties for $4.1B

The deal adds more than 25,000 royalty acres to Diamondback's Permian inventory and cuts Viper's dividend breakeven to under $20 per barrel WTI. Wachtell, Vinson & Elkins and Gibson Dunn advised on the deal.

June 3, 2025 Allen Pusey

CDT Roundup: Another Week for the $20B Streak, Unusual Deals and a SPAC Twist

The week ending May 31 saw 19 deals reported involving Texas businesses or Texas lawyers. They were valued at $23.4 billion, representing the fourth week in a row reporting transactions valued at a total of $20 billion or more. Last week, we saw 15 deals for $24 billion. And this time last year, there were 12 transactions for $34 billion. And it was a week that was more than usually unusual.

June 2, 2025 Allen Pusey

GATX, Brookfield to Purchase Wells Fargo Railway Fleet for $4.4B

The deal, advised by Skadden and Mayer Brown, involves 105,000 rail cars, a potential 10-year buyout by GATX and a separate purchase of Wells Fargo rail leasing assets.

May 30, 2025 Allen Pusey

EOG Resources to Acquire Encino Acquisition Partners for $5.6 Billion

The deal, which makes Houston-based EOG one of the largest producers in Appalachia's Utica shale play was advised by Wachtell, Akin and Latham & Watkins.

May 30, 2025 Allen Pusey

CDT Roundup: Texas Lawyers Deliver Rare $20B+ Hat Trick

In this edition of CDT Roundup, the week ending May 24 saw 15 deals reported for a total of $24 billion. The week prior saw 16 deals for $21.7 billion. In fact, it's the third week in a row we tallied $20 billion or more for transactions handled by Texas lawyers. And that's the first time that's happened since we started keeping these stats for deals reported to the CDT Roundup. It's also the first time we've seen three consecutive weeks of $10 billion or more since the three weeks the third quarter of 2024.

May 26, 2025 Allen Pusey