Free Speech, Due Process and Trial by Jury
Things may be looking up – if only slightly – as producers, lenders, private equity firms and others chime in on the state of borrowing bases and more as part of Haynes and Boone's semi-annual energy reports.
Consolidation is taking over legacy energy transactions. That's not only expected, but maybe necessary given the restructuring that's taking place in the industry itself. But however inevitable, it also has to be profitable; stockholders demand it. And that's becoming the crux of the problem in energy deals. The CDT explains the dilemma, along with the usual inventory of last week's deals.
Akin Gump has added two transaction lawyers that previously held leadership roles at Thompson & Knight and have deep ties to North Texas' energy community.
The Palo Alto firm's new Texas teammate previously helped lead Shearman & Sterling's entrance into the market in 2018.
Brittany Scheier was weeks away from graduating from UT Law and starting a career in Big Law three years ago when she suffered two severe strokes, causing brutal pain, a 30% loss of vision and paralysis on her right side. Quit? Scheier worked on last month's Noble Corp.'s acquisition of Pacific Drilling and five other M&A deals valued $1 billion or more. The story of what happened between March 4, 2018 and today is extraordinary. The American Heart Association thinks so, too.
A publicly traded company, some of the most in-demand assets in the Permian Basin, and a little more than a week to move from an indication of interest to a purchase agreement: Those are just some of the variables in Pioneer's $6.4 billion plans to purchase DoublePoint Energy. Gibson Dunn's Mike Darden, who advised Pioneer, detailed the timeline and more in an interview with The Texas Lawbook.
Pioneer Natural Resources is once again strengthening its hold in the Permian Basin with the $6.4 billion acquisition of a Fort Worth-based company.
Last week the CDT Roundup predicted an uptick in deals. The week provided far more than a tick, however, recording the most deals in a single week since 2018 and the most lawyers involved — well, ever. CDT Roundup has the details.
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