A lot of private equity capital has been raised to invest in the oil and gas sector – $70 billion last year, eight-fold over 2012 – but the challenge is finding where the value is, says Sam Oh, founder of Houston-based Mountain Capital. He explained his view to a gathering of the Independent Petroleum Association of America Wednesday in Houston. Claire Poole and The Texas Lawbook were there.
(June 11) – With only eight deals worth a reported $6.3 billion announced last week, Texas lawyers seemed to lose some of the momentum that was building when 13 deals worth $14.5 billion were announced the week previous. Eight law firms and 96 Texas lawyers were involved in dealmaking activity, compared with 10 law firms and 88 Texas lawyers in the previous period. The Lawbook’s Claire Poole parses the newest deals.
(June 7) – There was a surprise sale this week. Devon Energy sold all of its interests in publicly-traded EnLink Midstream Partners LP and EnLink Midstream LLC to Global Infrastructure Partners for $3.12 billion. Perhaps not surprising, Texas attorneys from three different firms were involved. Claire Poole has the names.
© 2018 The Texas Lawbook. By Claire Poole (June 6) – Right in step with the Texas weather, dealmaking heated up last week. There were 13 transactions announced worth $14.5
(June 5) – In a complex transaction with Blackstone-backed Royal Resources, Osprey Energy Acquisition Corp. purchased properties in the “core-of-the-core” of the Eagle Ford shale play, a deal which would value a newly-named company at $894 million. Claire Poole explains.
By Claire Poole – (June 1) – The Houston office of Sidley Austin was involved in a big deal this week, serving as U.S. counsel to Canada Development Investment Corp. on its acquisition of the Trans Mountain pipeline system and development project from Kinder Morgan Canada Ltd. for C$4.5 billion ($3.5 billion).
(May 31) – Deal activity leading up to the Memorial Day weekend was 76 percent off the previous week’s 2018 high. Active industries included oilfield services, solar power and banking, along with oil and gas exploration, energy infrastructure, fertilizer and steel. The Texas Lawbook has the specific names and numbers.
After reports earlier this year that it was looking at launching an initial public offering, Bain Capital-backed BMC Software said May 29 that it has agreed to be sold to KKR. Deal terms weren’t disclosed, but media reports put the price tag at $10 billion.
© 2018 The Texas Lawbook. By Claire Poole (May 22) — Thanks to continuing consolidation of the midstream sector, deals last week hit a high mark for the year at
Esteemed bankruptcy lawyer Stephen Youngman, who worked on the historic American Airlines Chapter 11 restructuring, died Monday “after a courageous battle with cancer,” firm officials said.