• Subscribe
  • Log In
  • Sign up for email updates
  • Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

The Texas Lawbook

Free Speech, Due Process and Trial by Jury

  • Appellate
  • Bankruptcy
  • Commercial Litigation
  • Corp. Deal Tracker/M&A
  • GCs/Corp. Legal Depts.
  • Firm Management
  • White-Collar/Regulatory
  • Pro Bono/Public Service/D&I

CDT Roundup: 11 Deals, 9 Firms, 75 Lawyers, $3.1B

March 3, 2025 Allen Pusey & Nick Peck

Watching natural gas prices these days is to play a tantalizing, billion-dollar game of Whack-A-Mole.

Take, for instance, the head-scratching numbers from latest weekly report from the U.S. Energy Information Administration. In a single week, the Henry Hub spot price fell from $7.78/MMBtu to $3.87/MMBtu — a drop of more than 50 percent.

In fact, natural gas spot prices fell almost everywhere over the same period (Feb. 19 to Feb. 26). In the Northeast, prices at the Algonquin Citygate, which serves the Boston area, the price fell even more precipitously, from $18.30/MMbtu to $4.07 to $4.07/MMbtu. Before you grab your calculator, that’s a drop of 77.8 percent. Chicago Citygate fell $4.42 from $7.82/MMbtu (-56.5%) and even the WaHa Hub in the Permian fell from $4.07/MMbtu to $1.50/MMbtu during the same period. That’s not only a drop of more than 63 percent, and well under the Henry Hub just over the Louisiana state line.

Even so, energy producers are feeling optimistic. Take Tom Jorden, CEO of Houston-based Coterra Energy. On a conference call with industry analysts last week, even as prices were dropping, he was talking about adding $50 million to his capital program to restart the company’s operations in the Marcellus, where they all but stopped in August 2024 because of pricing concerns.

This is particularly of interest because Coterra has been one of the most active companies of late in the M&A markets. Just last November, Coterra announced the $2.5 billion acquisition of Franklin Mountain Energy and $1.45 billion of Permian assets from Avant Energy. Those deals closed in January, advised by Gibson Dunn for Coterra and Kirkland & Ellis for the sellers.

Then in December Coterra revealed yet another $43 million purchase of 1,650 royalty acres from Sandia Minerals.

So, what’s going on here?

First, as Joden explains it, integration of the Permian acquisitions are going well. Competitive pricing of oilfield services and the introduction of new technologies are there, he says, to free up $50 million, and the hope is that the anticipated pressures for power demand — for data centers, utilities, European storage gas storage levels and ramped up LNG exports as the Gulf Coast facilities come online — will justify their plans to reopen in the Marcellus.

“In many ways, the stars are aligning for constructive pricing throughout 2025 and into 2026. But we don’t run our program on hold. So, we’re not going to make any decisions we don’t have to make,” Jorden said on the call.

More to the point, Jorden notes that the company is trying to make itself able to respond to pricing wherever changes occur. Coterra is focused on return, not pricing. Setting the Marcellus against the Permian is part of the strategy.

“We’re looking at what’s happening, not only domestically but globally.”

“We love the competition between different parts of our portfolio. We love the tough decisions that it puts on us. and we love the way our teams fight for capital by trying to become more and more efficient,” Jorden said.

Moreover, there’s always oil, now hovering at $70 per barrel. Even if it were to drop into the $40 range and stay there, Coterra would still make money, Jorden said.

“That’s resilience. That means you can make investments, and you can have a high degree of confidence that the cycles in price file will not turn those investments south on you,” Jorden said.

“Flexibility is the coin of the realm.”

The week that ended March 1 saw 11 deals, valued at $3.05 billion, well off the week prior, which saw a dozen deals valued at more than $16 billion. It was also off from the 20 deals for more than $9 billion this time last year.

Weekly Corporate Deal Tracker Roundup Stats

A compilation of weekly stats from The Lawbook's CDT Weekly Roundup
(Deal Values in Millions)

Week Ending
Deal CountAmountFirmsLawyersM&A CountM&A Value $MCapM Count
CapM Value $M
24-May-202515$24,0331112113$23,6242$409
17-May-202516$21,7601214511$18,6155$3,145
10-May-202524$33,1751620619$30,7655$2,410
03-May-202511$4,249139011$2,226.52$2,022.5
26-Apr-202512$8,78791689$6,0113$2,776
19-Apr-202511$8,09771389$7,9852$112
12-Apr-202513$2,392815210$2,0653$327
05-Apr-202519$27,7621518816$25,4733$2,289
29-Mar-202521$8,1881025816$4,1255$4,064
22-Mar-202519$6,4851423115$4,1284$2,857
15-Mar-202513$13,7371315110$9,9324$3,805
8-Mar-20257$2,2345665$2242$2,100
1-Mar-202511$3,05087510$2,5501$500
24-Feb-2512$16,39771496$6,6356$9,862
17-Feb-2517$12,1361313410$9,4112$2,725
10-Feb-2514$7,15491799$4,9505$2,204
3-Feb-2516 $10,068720011$7,5535$2,515
25-Jan-2514$10,261101259$2,2075$8,054
18-Jan-2519$7,3821531612$2,3007$5,082
11-Jan-2521$33,5601618716$32,5215$1,039
4-Jan-259$6,8279809$6,82700
21-Dec-2411$2,79811928$2,2293$570
14-Dec-2415$5,3231218612$3,8123$1,511
07-Dec-2416$4,7661023111$2,32152,445
30-Nov-2410$10,29191034$8,2906$2.001
23-Nov-2415$4,5531515311$3,3794$1,174
16-Nov-2417$11,4881124513$10,1864$1,303
09-Nov-2414$2,1101213912$1,4102$700
02-Nov-2412 $52,788 1110711$52,7381$50
26-Oct-248$3,1608657$3,0651$75
19-Oct-2412$5,3041113611$4,5541$750
12-Oct-2417$8,4381215015$8,1162$322
05-Oct-2422$23,1811218915$19,9807$3,201
28-Sep-2411$2,35671447$534$2,303
21-Sep-2412$9,568101695$4,1017$5,467
14-Sep-2424$10,9881223516$7,1758$3,813
7-Sep-2412$20,4201616811$20,3071$112.9
31-Aug-2413$20,631913412$14,7751$5,856
24-Aug-2419$8,4522132516$7,1023$1,350
17-Aug-2425$49,1961630411$39,38614$9,810
10-Aug-2420$12,2641531216$9,7944$2,470
03-Aug-2426$16,4981633418$8,1378$8,361
27-Jul-2419$16,4422127115$13,8384$2,604
20-Jul-2415$16,0161418410$14,2325$1,784
13-Jul-2420$17,220 1426518$7,146 2$10,074
6-Jul-2411$3,941 11958$2,650 3$1,291
29-Jun-2414$6,296 152248$6,296 6$1,927
22-Jun-2412$5,679 81375$210 7$5,469
15-Jun-2413$9,895 1621410$5,280 3$4,615
8-Jun-2419$23,859 1323912$19,436 7$4,423
1-Jun-2412$34,510 111479$26,110 3$8,400
25-May-2413$9,684 1517110$4,434 3$5,250
18-May-2411$5,490 111738$3,129 3$2,361
11-May-2422$14,855 1422716$11,105 6$3,750
4-May-2413$3,139 98710$1,297 3$1,842
27-Apr-2410$6,684 62810$6,684 00
20-Apr-2419$15,989 111479$5,208 10$10,781
13-Apr-2413$8,952 97610$1,652 3$7,300
6-Apr-2423$26,616 1422214$13,501 8$13,116
30-Mar-2412$9,286 81368$4,299 4$4,987
23-Mar-2418$5,451 1726616$4,759 2$692
16-Mar-2421$11,437 1318614$9,316 6$2,070
9-Mar-2423$4,695 2121819$2,723 4$1,972
2-Mar-2420$9,108 1937214$4,558 6$4,550
24-Feb-2419$16,382 1224815$9,507 4$6,875
17-Feb-2416$29,932 1515712$29,216 4$716
10-Feb-2425$10,750 1719619$5,372 6$5,379
3-Feb-2412$8,416 181259$3,416 3$5,000
27-Jan-249$8,165 9878$7,815 1$800
20-Jan-2414$4,084 1210912$3,219 2$865
13-Jan-2417$33,588 1225612$26,765 5$6,823
6-Jan-248$7,915 8846$7,265 2$650
30-Dec-2317$14,599 129915$2,714 2$11,885
23-Dec-2323$4,182 1321916$1,813 7$2,370
16-Dec-2313$16,436 132807$15,150 5$1,286
9-Dec-2326$14,633.90 1724416$8,095 10$6,538.90
2-Dec-2313$6,720 95712$6,630 1$90
25-Nov-239$4,835 91316$1,785 3$3,050
18-Nov-2322$6,568.70 1718414$4,709.20 8$1,859.50
11-Nov-2315$9,825 1317912$6,581 3$3,244
4-Nov-2315$20,582.50 1419312$19,417.50 3$1,165
28-Oct-2318$68,419.10 1815215$66,646 3$1,773.10
21-Oct-2316$6,755.90 1616515$6,755.90 1$3
14-Oct-2314$67,851.20 131259$61,998.50 5$5,852.70
7-Oct-2317$6,595.50 1322816$5,995.50 1$600
30-Sep-2317$1,896.45 1318914$806.45 3$1,090
23-Sep-2323$6,432.70 1723016$1,402.80 7$5,029.90
16-Sep-2325$23,226.70 2335316$17,239 9$5,987.70
9-Sep-2312$6,369 81027$4,311 5$2,058
2-Sep-2314$2,522 69213$1,322 1$1,200
26-Aug-2317$12,160.25 1320215$6,573.25 2$5,587.00
19-Aug-2319$11,505 1321315$11,255 4$250
12-Aug-2319$9,698.80 131847$3,270 12$6,428.80
5-Aug-2313$5,201 1211812$5,051 1$150
29-Jul-2315$21,031.60 1319611$18,292.00 4$2,739.60
22-Jul-2318$3,992 1213013$2,808 5$1,184
15-Jul-2313$8,254.95 138113$8,254.95 00
8-Jul-2316$5,441.45 1217211$2,443 5$2,998.45
1-Jul-2316$6,872 1010512$5,474 4$1,398
24-Jun-2313$10,914 1620110$7,874 3$3,040
17-Jun-2317$5,880.70 1515115$4,705.70 2$1,175
10-Jun-2319$8,516.10 1311116$6,252.40 3$2,263.70
June 3 202312$6,104.42 121388$4,256.92 4$1,847.50
27-May-2317$12,200 106711$6,165 6$6,035
20-May-2311$22,458.10 81034$19,455 7$3,003
13-May-2312$7,034 101018$5,460 4$1,574
6-May-2320$3,297.60 1819617$2,985.60 3$312
29-Apr-2323$3,691.20 1813517$1,969.70 6$1,721.50
22-Apr-2316$5,570 1410414$4,750 2$1,000
15-Apr-2312$23,818.10 95910$21,618.10 2$2,200
8-Apr-2316$7,949 91739$5,472 7$3,477
1-Apr-2321$18,676.70 1217511$10,926.70 10$7,750
25-Mar-2315$8,779.50 101415$2,362 10$6,416.50
18-Mar-237$14,048.80 6695$13,345 2$703.80
11-Mar-2321$11,576 1616516$8,131 5$3,445
4-Mar-2320$9,668 1122816$8,209 4$1,459
25-Feb-2313$5,335 1313012$4,235 1$1,200
18-Feb-2314$5,743.70 131588$898.70 6$4,845
11-Feb-2316$12,088 1213712$9,965 4$2,123
4-Feb-2317$8,066 1514013$5,614 4$2,452
28-Jan-237$2,180 7755$1,692.75 2$488
21-Jan-2317$5,768 1617412$1,918 5$3,850
14-Jan-2311$2, 800101028$421 3$2,400
7-Jan-2318$8,296 1116714$6,461 3$1,835
31-Dec-2214$2,732 119912$2,092 2$640
17-Dec14$7,919 1311512$7,419 1$500
10-Dec-2214$10,093 128811$7,093 3$3,000
3-Dec-2226$12,800.90 1117220$4,141 6$8,659.90
26-Nov-228$2,266.70 853$76 5$2,190.70
19-Nov-2221$2,886 1521219$2,550 2$336
12-Nov-2213$15,093.70 9819$14,200 4$893.70
5-Nov-222519,337.201650922$8,267.20 3$11,070
29-Oct-2215$7,805.30 911614$7,180.30 1$625
22-Oct-2220$8,193.50 1325313$5,442 7$2,751.50
15-Oct-229$3,046.10 91397$2,588.30 2$457.80
8-Oct-2219$2,011.80 1211416$833.80 3$1,178
1-Oct-2223$5,532.90 1615618$4,952.30 5$580.60
24-Sep-2218$5,194 1421615$4,050 3$1,144
17-Sep-2221$8,352.30 1232015$4,759.60 6$3,592.70
10-Sep-2215$19,853.50 1012613$19,403.60 2$450
3-Sep-229$2,312 9629$2,312 00
27-Aug-2216$30,891.70 1013515$30,666.40 1227.7
20-Aug-2212$1,977 815299253$1,052
13-Aug-2218$8,004.70 1124211$2,844.70 7$5,160
6-Aug-2224$7,948.90 1224017$3,577 7$4,371.90
30-Jul-228$6,941 9787$6,839 1$102
23-Jul-2211$801 119210$801 10
16-Jul-2214$3,650 1012214$3,650 00
9-Jul-2210$3,557.70 7689$3,557.70 10
2-Jul-2218$8,609.40 1315215$2,754.40 3$5,855
25-Jun-2215$6,142 131469$2,017 6$4,125
18-Jun-2217$11,890.10 1422815$11,410 2479.7
11-Jun-2217$7,600 1212310$2,300 7$5,300
4-Jun-2212$2,937 101279$692 3$2,245
28-May-229$3,197.60 11869$3,197.60 00
21-May-2214$7,284.50 1218511$6,609 3$675.50
14-May-2211$306.60 98010$306.60 1$225
7-May-2216$10,451.75 1210812$1,827 4$8,624.75
30-Apr-2216$2,296.50 1615712$895.50 4$1,401
23-Apr-2210$2,241 11588$1,641 2$600
16-Apr-2211$6,643 71568$2,359 3$4,284
9-Apr-2217$4,429 1418411$1,690 6$2,739
2-Apr-2213$1,755 88410$1,145 3$610
26-Mar-2211$3,205 8656$200 5$3,005
19-Mar-2213$2,239.17 910613$2,239.17 00
12-Mar-2218$12,016 1123915$11,965 2$51.35
5-Mar-2217$6,786 1313713$5,161 4$1,625
26-Feb-2212$5,095 81499$4,437.50 3$658
19-Feb-2217$22,229 1717414$21,354 3$875
12-Feb-2212$2,344.70 10738$641.70 4$1,703
5-Feb-2211$2,503 89911$2,503 00
29-Jan-2211$3,872 1210112$3,872 00
22-Jan-2213$5,143.50 109912$4,842.50 1$301
15-Jan-2212$7,605 91559$6,480 3$1,025
8-Jan-2213$8,256.20 1110213$8,256.20 00
1-Jan-229$1,273.80 6509$1,273.80 00
25-Dec-2121$4,734.75 1117616$3,410 5$1,324.75
18-Dec-2126$7,325.20 1519318$3,640.20 8$3,685.20
11-Dec-2116$5,017 1010913$1,417 3$3,600
4-Dec-2114$2,310 8868$2,310 6$1,882.05
27-Nov-219$3.460.1101016$1,758 3$1,702.60
20-Nov-2120$22,792 1515712$18,864.50 8$3,928
13-Nov-2121$26,729 1217813$11,822 8$14,907
6-Nov-2112$8,303 1315710$6,682 3$1,621
30-Oct-2121$10,368 1521815$9,24.46$1,103.00
23-Oct-2121$18.783.11522211$12,314 10$6,468.60
16-Oct-2115$3,868 1111815$2,293 2$1,575
9-Oct-2120$8,610 1617516$7,795 4$815
2-Oct-2114$6,250 1113710$5,200 4$1,050
25-Sep-2111$11,460 9937$10,200 4$1,250
18-Sep-2111$16,603 8998$15,084 3$1,519
11-Sep-2117$10,653 1110313$8,503 4$2,150
4-Sep-2113$7,222 108911$6,715 2$507
28-Aug-2112$763 96311$663 1$100
21-Aug-2112$29,659 77911$29,579 1$80
14-Aug-2122$17,845 1119912$12,805 10$5,04
7-Aug-2117$13,670 1213915$11,766 2$1,904
31-Jul-2121$8,160 1113410$3,574 10$4,586
July 24,202121$6,367 1113915$3,712 6$2,655
17-Jul-2114$4,009 1112412$2,015 2$1,994
10-Jul-2116$3,997 1314311$1,597 4$2,4
3-Jul-2124$7,492 139416$3,769 8$3,722
26-Jun-2110$4,995 7858$3,847 2$1,148
19-Jun-2128$16,830 82289$1,861 19$14,968
12-Jun-2126$27,238 1520919$25,602 7$1,636
5-Jun-2115$15,539 1310013$14,709 2$600
29-May-2135$20,279 1114528$18,647$1,639
22-May-2124$53,208 1417417$51,047 7$2,161
15-May-2118$10,620 1322011$5,870 7$4,809
8-May-2117$10,400 1115615$8,386 2$2,500
1-May-2121$7,200 1611512$3,808 9$3,392
24-Apr-218$20,200 9318$20,200 00
17-Apr-2114$6,270 810211$40,180 3$2,260
10-Apr-2115$8,940 1312914$7,990 1$950
3-Apr-2118$19,513 1015112$16,923 6$2,590
27-Mar-2127$13,942 1524414$4,300 13$9,633.50
20-Mar-2111$2,046 41023$270 8$1,776
13-Mar-2115$3,270 91096$538 9$2,732
6-Mar-2124$13,617 1019613$10,395 11$3,222
27-Feb-2119$8,105 1213915$4,970 4$3,135
20-Feb-219$8,820 91538$8,520 1$300
13-Feb-2112$4,852.60 78172,7665$2,086.60
6-Feb-2118$9,752 1315314$5,222 4$4,530
30-Jan-2118$9,449 918215$8,753.80 3$695.30
23-Jan-2114$8,150 81186$4,000 8$4,150
16-Jan-2117$6,783 1313811$2,400 6$4,382.90
9-Jan-2122$6,829 1413518$3,139.30 4$3,690
2-Jan-217$1,466 7607$1,466 00
26-Dec-2018$15,900 1216316$5,300 1$600
19-Dec-2018$9,769 1411014$8,426 4$1,343
12-Dec-2010$7,200 91009$3,325 1$3,830
5-Dec-2015$4,261 91229$2,780 6$1,481
28-Nov-2019$7,758 1011013$4,003 6$3,755
14-Nov-2014$864.10 1415712$289.10 2$575
7-Nov-2013$6,332 91299$2,483.50 4$3,849
31-Oct-2010$3,995.80 81036$3,231.10 4$754.70
24-Oct-206$18,100 6585$17,709 1$350
17-Oct-208$351.90 5558$351.90 00
10-Oct-207$5,229 3504$735 3$4,494
3-Oct-2014$21,428 91739$17,535 5$3,893
26-Sep-2010$12,770 8935$10,300 5$2,470
19-Sep-2014$8,365 91016$1,020 8$7,345
12-Sep-206$4,406 8593$1,270 3$3,136
5-Sep-2011$5,191 81179$4,061 2$1,130
29-Aug-2011$2,531 9945$1,130 6$1,401
22-Aug-2018$6,574 121407$1,930 11$4,644
15-Aug-2013$4,991 10977$1,216 6$3,775
8-Aug-2012$32,092 111129$30,457 3$1,635
1-Aug-207$5,287 8765$3,687 2$1,600
25-Jul-209$18,751 6677$18,403 2$348
18-Jul-206$1,982.50 5504$1,407.50 2$575
11-Jul-2011$565.10 127510$65.10 1$500
4-Jul-2010$8,889 8989$8,788 1$100.30
27-Jun-208$6,874 10505$4,972.50 3$2,081.50
20-Jun-2012$4,444 91157$2,829 5$1,615
13-Jun-206$3,582 4372$350 4$3,232
6-Jun-2011$3,213.70 8657$470 4$2,743.70
30-May-208$7,335 7486$4,639 2$2,697
23-May-204$432.40 4343$432.40 10
16-May-206$310 6345$310 10
9-May-2018$5,630 1612414$3,180 4$2,450
2-May-201510,40010908$1,900 7$,8,500
25-Apr-208$3,400 9365$1,000 3$2,450
18-Apr-2019$9,500 14928$185.70 11$9,360
11-Apr-2012$6,000 9405$190 7$5,800
4-Apr-2014$8,200 116810$2,200 4$6,000
28-Mar-2016$6,500 139610$3,700 6$2,800
21-Mar-2011$11,910 7337$2,250 4$9,960
14-Mar-207809.86346684.81125
7-Mar-2016$2,500 157013$669 3$1,400
29-Feb-2013$15,260 1312811$11,760 2$3,500
22-Feb-2012$3,700 109210$2,560 2$1,130
15-Feb-2016$1,250 108412$35 4$1,222
8-Feb-2018$6,080 1412314$2,595 4$3,485
1-Feb-2021$20,900 1210114$17,860 7$3,060
25-Jan-2013$7,430 136212$6,430 1$1,000
18-Jan-2023$9,580 1512019$6,580 4$3,000
11-Jan-2021$14,200 1819916$1,020 5$13,200
4-Jan-2022$6,400 1111916$3,204 6$3,245
28-Dec-1922$7,150 1917518$6,800 4$327.40
14-Dec-1924$36,300 2316719$9,500 5$26,800
7-Dec-1911$10,400 11557$1,082 4$9,370
November 30. 201914$2,450 1212612$1,760 2$692.50
23-Nov-1916$1,995 104111$615 5$1,380
16-Nov-1915$3,820 1313511$2,500 4$1,271
9-Nov-1925$12,900 1718223$12,200 2$575
2-Nov-1910$2,470 126192,4503$22
26-Oct-1912$5,560 147011$3,860 1$1,700
19-Oct-198$6,600 81388$6,600 00
12-Oct-1919$4,300 145516$3,800 3$500
5-Oct-1918$14,500 1916615$11,100 3$3,400
28-Sep-1919$8,100 1813218$7,560 1$550
21-Sep-1914$6,300 166611$2,160 3$4,170
14-Sep-1915$23,800 125611$21,250 4$2,570
7-Sep-1917$3,500 159814$1,900 3$1,600
31-Aug-195$8,700 6505$8,700 00
24-Aug-1916$10,000 148215$4,250 1$5,750
16-Aug-1910$1,680 5527$650 3$950
9-Aug-1917$17,700 156814$3,900 3$13,800
2-Aug-1913$5,760 1210813$5,760 NANA
27-Jul-1911$7,300 13768$6,570 3$730
20-Jul-1913$11,800 1312511$5,300 2$6,500
13-Jul-1910$775 7468$542.50 2$233
6-Jul-197$2,500 9857$2,500 00
29-Jun-1923$8,290 1515417$2,300 6$5,970
22-Jun-1917$10,700 1013914$7,700 3$3,000
15-Jun-1911$13,500 1416011$13,500 NANA
8-Jun-1913$2,870 175511$1,570 2$1,300
1-Jun-1910$4,460 11608$4,140 2$315
25-May-1917$4,360 147914$3,700 3$612
18-May-1922$9,000 1715016$3,400 6$5,600
11-May-1918$19,800 1717715$18,300 3$1,500
4-May-1910$7,075 6328$6,900 2$175
27-Apr-1915$3,200 1411714$3,160 1$40
20-Apr-1913$13,500 10909$12,200 4$1,300
13-Apr-1916$38,900 149114$37,800 2$1,100
6-Apr-1912$6,870 119410$6,730 2$50
30-Mar-1915$6,470 128410$7,91.55$5,677
23-Mar-1918$6,450 149114$5,042 4$1,408
16-Mar-1914$10,180 1211511$8,800 3$1,300
9-Mar-199$1,800 6498$1,300 1$500
2-Mar-1920$3,033 1610714$1,817 6$1,262
23-Feb-1912$2,040 8699$614.60 3$1,430
16-Feb-1916$9,970 187716$9,970 00
9-Feb-1914$6,400 1011014$6,400 00
2-Feb-1918$6,740 159916$5,720 2$950
26-Jan-1913$2,770 116711$918.95 2$1,850
19-Jan-1915$3,819 167612$2,594 3$1,225
12-Jan-1918$7,283 149215$1,683 3$5,600
5-Jan-1910$529 125010$529 00
22-Dec-1817$2,570 138714$941 3$1,629
15-Dec-1810$2,860 8268$264 2$2,600
8-Dec-1815$1,819 166512$552 3$1,267
1-Dec-1812$7,500 10909$1,200 3$6,200
28-Nov-1815$4,500 1110714$4,000 1$500
19-Nov-1818$6,137 139813$2,142 5$3,995
14-Nov-1818$9,200 1315215$8,500 3$694
6-Nov-1816$17,300 1618314$16,361 2$950
29-Oct-1814$14,400 1812717$13,800 1$600
24-Oct-1813$6,140 1312611$5,122 2$1,018
17-Oct-1818$18,390 1512514$12,292 4$6,098
10-Oct-1829$3,149 1810420$1,647 9$819
2-Oct-1818$9,300 116714$7,300 4$2,000
25-Sep-1813$7,000 117510$6,000 3$995
18-Sep-189$3,570 7449$3,570 00
11-Sep-1813$5,900 1013213$5,900 00
7-Sep-1814$5,000 158611$4,000 3$1,000
29-Aug-1815$20,700 147913$4,700 2$16,000
20-Aug-1810$12,400 11538$11,380 3$1,057
14-Aug-1812$19,900 121329$18,889 3$1,011
7-Aug-1816$68,600 1110613$67,259 3$1,340
31-Jul-1815$15,100 159511$13,060 4$2,060
23-Jul-1813$2,130 156010$1,804 3$1,100
17-Jul-1814$5,370 17989$4,310 5$1,100
9-Jul-1816$11,200 157410$11,080 6$862
3-Jul-1813$7,000 78112$6,330 1$750
25-Jun-1815$8,800 13979$4,970 6$3,930
18-Jun-1813$14,200 14807$221 6$14,290
11-Jun-1812$6,300 8968$5,910 4$803
6-Jun-1813$14,500 10888$14,154 5$579
31-May-1811$4,890 10638$3,240 3$1,790
22-May-1815$20,400 11639$19,808 6$885
15-May-1815$4,700 1510610$3,900 5$643
9-May-1811$1,400 13889$1,300 2$560
1-May-188$14,250 7887$13,400 1$450
24-Apr-1812$5,300 66111$4,470 1$800
17-Apr-189$1,800 10447$2,330 2$1,434
11-Apr-1811$2,500 8326$1,690 5$809
3-Apr-1815$13,400 111219$12,020 6$1,090
28-Mar-1810$4,000 10927$3,870 3$215
19-Mar-1817$5,800 135110$590 7$5,165
12-Mar-1815$3,130 114311$2,360 4$788
6-Mar-1819$5,400 1311610$1,530 9$4,860
27-Feb-1820$6,600 136914$5,530 6$1,030
19-Feb-1815$5,500 1411110$3,990 6$1,980
12-Feb-1823$10,900 1715712$7,110 11$3,840
5-Feb-1816$8,600 131007$1,330 9$7,800
30-Jan-1811$12,600 11685$7,300 6$4,982
24-Jan-1819$9,400 151295$2,010 14$7,337
18-Jan-1810$6,280 8492$2,100 8$4,188
9-Jan-1812$16,500 12929$15,890 3$475
3-Jan-1810$2,500 9478$2,350 2$150
27-Dec-1715$9,000 151139$7,568 6$1,784
18-Dec-1715$13,800 161649$13,010 7$1,118
11-Dec-1714$9,700 1012612$2,940 4$8,500
4-Dec-176$1,800 6315$1,510 1$300
28-Nov-177$3,850 8764$3,260 3$285
16-Nov-1710$2,700 10486$1,840 4$856
8-Nov-1715$2,380 179110$1,860 5$516
1-Nov-1712$4,700 17949$3,400 4$1,300
23-Oct-1715$10,500 106710$9,780 4$1,530
18-Oct-176$2,000 373$225 3$1,820
10-Oct-1712$6,570 1009$3,880 3$3,360
2-Oct-178$3,100 11193$1,630 5$1,750
25-Sep-178$4,880 8795$2,660 5$2,070
18-Sep-179$4,770 3$300 6$4,470
12-Sep-1711$4,430 8$2,030 3$2,400
1-Sep-174$1,310 3$317 1$1,000
23-Aug-1711$13,640 98$11,840 3$1,800

M&A/Fundings

MPLX Acquires Remaining Interest in the BANGL Pipeline for $715M

Deal Description: MPLX LP, a Findlay, Ohio-based limited partnership formed by Marathon that owns and operates midstream energy infrastructure and other similar assets, announced on Feb. 28 that it has acquired the remaining 55 percent interest in the BANGL Pipeline for $715 million. MPLX acquired the remaining interest from affiliates of Austin’s WhiteWater Midstream and Midland’s Diamondback Energy, with the deal expected to close officially in July 2025. Once it closes, the BANGL Pipeline will be owned entirely by MPLX after it obtained a 45 percent interest stake in the pipeline in July 2024. MPLX expects the transaction to become immediately accretive and to generate mid-teen returns for the partnership. Furthermore, the newly acquired asset, which transports 250,000 NGL barrels daily from Texas’ Permian basin to the Gulf Coast, is expected to expand to produce 300,000 barrels per day by 2026 and enable NGLs to reach MPLX’s Gulf Coast fractionation complex by 2028.

Diamondback Energy In-House Counsel: Matt Zmigrosky (Midland)

WhiteWater In-House Legal Counsel: Nathan Murphy (Austin)

WhiteWater Outside Legal Counsel: Simpson Thacher & Bartlett advised WhiteWater in the deal with a team that included Shamus Crosby (Houston), Katy Lukaszewski (Houston), Breen Haire (Houston), Tushar Parashar (Houston), Andrew Kingsbury (Houston), Gavin Jaco (Houston), Arthur Kopilevich (Houston), Kaitlyn Greening (Houston), John Carter (Houston), Adam Arikat (Houston), Eli Shalam (New York), Elizabeth Trask (Washington, D.C.), Peter Guryan(New York), Kelly Karapetyan (New York) and James Logie (New York).

MPLX LP Outside Legal Counsel: Morgan Lewis is advising MPLX LP in the agreement with a team that included Sameer Mohan (Houston), Tara McElhiney (Houston), Kelsey Warren (Houston), LaVelle King (Philadelphia), Harry Robins (New York), Michael Masling (Frankfurt), Qian Susan Zhu (New York), Michelle Pector (Houston), Melissa Brown (Houston) and Terresa Adams (Washington, DC). 

WhiteWater Financial Advisor: Barclays

Trive Capital Invests in the UK’s Independent Forgings and Alloys

Deal Description: Trive Capital, a Dallas-based PE firm, announced on Feb. 27 that it has invested in Independent Forgings and Alloys, a Sheffield, United Kingdom-based forged and machine product manufacturer primarily serving significant European defense suppliers and customers using aircraft engines. Despite the recent announcement of the investment, the exact amount was undisclosed. Moving forward, Trive will continue to make strategic investments in the company and look for acquisition opportunities to enhance IFA’s platform and capabilities to serve its customers better in the present and long term. In addition, Andy McGuinness, the current CEO of IFA, will continue to head the company into its next growth phase despite the recent investment.

Trive Capital In-House Legal Counsel: Trevor Johnston (Dallas)

Trive Capital Outside Legal Counsel: Willkie advised Trive Capital in the deal with a team led by Brandon McCoy(Dallas) and included David Arnold (London), Jane Scobie (London), Ethan Douglas (London), Ashley Jamali(London), Ashley Braham (London), Ellie Byrne (London), Robert Jacobson (Houston), Yaniv Maman (Houston), Omar Shariff (Dallas) and Morgan Butkus (Dallas).

Independent Forgings and Alloys Outside Legal Counsel: Knights

Independent Forgings Financial Advisor: Kroll

Ring Energy Acquires Central Basin Assets From Lime Rock for $100M

Deal Description: Ring Energy, a Midland-based producer, explorer and developer of oil and gas assets, announced on Feb. 26 that it has agreed to acquire the Central Basin Platform assets from Houston’s Lime Rock Resources IV for $100 million. The transaction price comprises $80 million upfront cash, which includes cash on hand and borrowings from its existing credit facility. In addition, it consists of a $10 million deferred cash payment, which will be due nine months after closing, and 7.4 million shares of Ring common stock for $1.3534 per share. Through this accretive bolt-on acquisition, Ring will use the new assets, located primarily in Andrews County, Texas, to enhance its operations by adding near-term opportunities for field-level optimization. In addition, the acquisition will enable it to save money and increase shareholder value through the improved opportunities and operational efficiencies it expects the new assets to bring.

Ring Energy In-House Counsel: Phillip Feiner (Houston)

Lime Rock Resources In-House Counsel: Debra Sandefer (Houston)

Lime Rock Resources IV Outside Legal Counsel: Kirkland & Ellis advised the team in the deal with a team that included Jonathan Paul Strom (Houston), Christopher Heasley (Austin/Houston), Chelsea Daku (Houston), Lyle Paul(Houston), Jennifer Wu (Austin), Billy Vranish (Houston), Mark Dundon (Houston), Eli Kukharuk (Salt Lake City), Jonathan Kidwell (Dallas) and Max Anderson (Dallas).

Ring Energy Outside Legal Counsel: Jones & Keller

Lime Rock Resources IV Financial Advisor: Truist Securities

Ring Energy Financial Advisor: Greenhill, a Mizuho affiliate

Brookfield Asset Management Acquires National Grid’s US Onshore Renewables Business for Over $1.7B

Deal Description: National Grid plc, a London-based energy-focused company, announced on Feb. 24 that it has agreed to sell its National Grid Renewables US onshore business to Toronto’s Brookfield Asset Management and a group of its institutional partners, including Brookfield Renewable Partners, for $1.735 billion. The final purchase price may change at closing due to the current terms of the transaction only representing the company’s current enterprise value, with the expected closing date falling within Q1 2026. The move was made to support National Grid’s May 2024 announced strategy of streamlining its business and increasing its network focus.

Brookfield Outside Legal Counsel: Skadden advised Brookfield in the deal with a team that included Katherine Kady Ashley (Washington, D.C.), Ataefiok Etukeren (Washington, D.C.), Aryan Moniri (Washington, D.C.), Joyce Chang (Washington, D.C.), Simon Cassell (New York), Jack Keller (Houston), Olivia Yuan (Houston), Sean Shimamoto (Palo Alto/Houston), Robert Chou (Palo Alto). 

Slant Energy III Secures Equity Commitment From Pearl Energy

Deal Description: Slant Energy III, a recently formed Lafayette, Louisiana-based explorer and producer of upstream oil and gas assets, announced on Feb. 25 that it has received an undisclosed equity commitment from Pearl Energy Investments, a Dallas-based PE firm. Through the recently announced investment, Slant III will look for acquisition and development opportunities in the Permian Basin region of New Mexico and West Texas.

Slant Energy III Outside Legal Counsel: Kirkland & Ellis advised Slant Energy III in the deal, which included a team of lawyers, including Kevin Crews (Dallas) and Jacqueline Scioli (Dallas).

Pearl Energy Investments Outside Legal Counsel: Willkie represented Pearl in the deal with a team that included Tony Johnston (Dallas), J. Holt Foster, III (Dallas), Robert Jacobson (Houston), AK Lutz (Dallas) and Wills Layton (Houston).

Note: This isn’t the first time Slant and Pearl have worked on one of Slant’s projects, as the duo have worked with one another since the company’s inception in 2016. Most recently, they worked together in Feb. 2022 on Slant II, when Slant secured a $90 million commitment from Pearl, a deal in which Kirkland & Ellis’ Kevin Crews also represented Slant.

Azara Healthcare to merge with i2i Population Health

Deal Description: In a deal bankrolled by Insight Partners, healthcare analytics providers Azara Healthcare and i2i Population Health announced Feb. 19, that they are merging. The combined company will have its headquarters in Burlington, Mass., and an office in Nashville, Tenn., where i2i is currently based. The combined company will have an expanded base of analytical data to identify appropriate interventions, patient risk factors and potential efficiencies available to healthcare payers and providers.

Financial Advisors to Azara: Aeris Partners

Financial Advisors to Insight: Healthcare Growth Partners

Insight Outside Legal Counsel: Willkie Farr & Gallagher led by partners Matthew Guercio (New York) and Tai Fukumoto (New York) with associate Joe Laurel (Houston).

VerAI Discoveries closes Series B Round with $24M

Deal Description: VerAI, a mineral asset E&P company, announced the close of its Series B funding round with $24 million led by Insight Partners. The investment includes continued support from existing investors Blumberg Capital, Chrysalix Venture Capital and Orion Industrial Ventures. The capital infusion is intended to support the development of VerAI’s platform for software-driven identification and procurement of otherwise concealed deposits of high-value minerals in covered terrains like ice sheets and rock formations.

Insight Partners Outside Legal Counsel: Willkie Farr & Gallagher led by partner Matthew Haddad (New York) assisted by associate Joe Laurel (Houston).

Grovecourt Capital acquires intraoperative imaging provider IMRIS

Deal Description: Grovecourt Capital Partners, announced Feb. 9, its acquisition of IMRIS, a provider of movable intraoperative imagery for surgical theaters and suites, from Deerfield . That IMRIS structural mobility, incorporated in the operation room design, allows patients to stay in sterile environments during imaging for emerging procedures like laser ablation and high intensity ultrasound. Originally headquartered in Winnipeg, IMRIS moved to Chaska, Minn., following its emergence from bankruptcy after a buyout by Deerfield Management in 2015, one of its secured lenders. Grovecourt is headquartered in West Palm Beach, Fla.

Financing: Bell Bank and Farragut Capital Partners

Financial Advisor to IMRIS: CMD Global Partners

Grovecourt Outside Legal Advisors: Holland & Knight with a team led from Miami by partner Jordan Taylor, along with associate Matthew Zawislinski (Miami). Financing was handled by partner Arthur Lotz (Dallas) along with associates Amir Saboorian (Dallas) and Ana Carvajal (Dallas).

Brazil’s BTG Pactual acquires UniTek Global

Deal Description: BTG Pactual Strategic Capital (Strat Cap) announced Feb. 27 its strategic investment in broadband infrastructure services provider UniTek Global Services. Based in Jackson, Mississippi, UniTek provides design, engineering, installation and maintenance for both aerial and underground fiber optics systems for telecommunications and data centers. The Strat Cap investment was made alongside existing investor New Mountain Finance Corp. Strat Cap is a buyout fund managed Brazilian investment bank BTG Pactual.

Strat Cap Outside Legal Counsel: Gibson Dunn & Crutcher

UniTek Global Outside Legal Counsel: A&O Shearman led by Dallas partners Kyle Park and Alain Dermarkar, along with Jake Lortz, Ian Johnson, Emily Kelly.

J.F. Lehman-backed PURIS acquires Creekside

Deal Description: J.F. Lehman portfolio PURIS announced Feb. 24 the completion of its acquisition of Creekside, a pipeline rehabilitation company. The acquisition is the first for The Woodlands-based PURIS platform since Lehman restructured its ownership of PURIS through a single-asset continuation fund last July. Creekside, founded in Harmony, Penn., in 1989, specializes in the trenchless rehabilitation of aging sewer, wastewater and potable water lines using geopolymer spray linings. Terms of the acquisition were not disclosed.

PURIS Outside Legal Counsel: A&O Shearman led from Dallas by partners Alain Dermarkar and Robert Cardone with Kyle Park, John Kurtz, Elizabeth Robishaw, Hamza Mallick and Efren Lemus.

Financing: General Atlantic Credit with PSP Credit USA

Financial Advisors to Creekside: Strategic Advisors

Creekside Outside Legal Counsel: Must O’Keefe

Capital Markets/Credit

Centerpoint Energy Houston Electric Announces $500M General Mortgage Bond Offering

Deal Description: Houston’s CenterPoint Energy’s subsidiary, CenterPoint Energy Houston Electric, announced on Feb. 27 that it has closed its public offering of $500 million worth of general mortgage bonds, part of its Series AP bond series, at 4.80 percent due in 2030. CenterPoint Energy Houston Electric intends to use the offering for working capital and expenditures.

CenterPoint Energy In-House Legal Counsel: Monica Karuturi (Houston)

CenterPoint Energy Houston Electric Outside Legal Counsel: Baker Botts represented CenterPoint Energy Houston Electric in the deal with a team that included Timothy Taylor (Houston), Clint Rancher (Houston), Robert Cowan(Austin), Sarah Dyer (Houston), Jack Hennessy (Houston), Michael Bresson (Houston) and Jared Meier (Houston).

Underwriters Outside Legal Counsel: Hunton Andrews Kurth 

Joint Book-running Managers for the Offering: BofA Securities, Scotia Capital (USA) and U.S. Bancorp Investments

Note: In November 2024, CenterPoint issued a $500 million public offering, which several of the same Baker Botts attorneys working on the recently announced offering also advised CenterPoint on. In addition, Hunton Andrews Kurth also advised the underwriters sitting opposite CenterPoint in the same November 2024 deal.

Other Matters…

The Middleby Corporation Announces Spin-off of Food Processing Business

The Middleby Corporation, an Elgin, Illinois-based equipment manufacturer for commercial food services, residential kitchens and food processing firms, announced on Feb. 25 that it intends to spin off its food processing business tax-free into a standalone public company, Middleby Food Processing. When the deal is approved, stock in the new publicly traded company will be distributed to Middleby’s current shareholders. Through the spin-off, Middleby will enable its food processing business to stay in line with similar companies in the industry in terms of value and deliver several other benefits to ensure it can continue creating value for its shareholders long-term. The spin-off is a part of The Middleby Corporation’s January 2025 announced plan to review its business portfolio and look for ways to maximize shareholder value strategically. Houston lawyer Eric Otness is part of a Skadden team advising Middleby Corporation on the transaction.

RedHill Biopharma Announces Global Licensing Agreement with Hyloris Pharmaceuticals

RedHill Biopharma, a Tel-Aviv, Israel-based developer and seller of gastrointestinal and infectious disease medications, announced on Feb. 25 that it had entered a licensing agreement with Belgium’s Hyloris Pharmaceuticals, to further develop and commercialize its RHB-102 medicines, which are commonly referred to as Bekinda. Throughout its development process thus far, the medication has been primarily used for oncology support, irritable bowel syndrome and acute gastroenteritis. Through the agreement, Hyloris intends to make Bekinda available to patients globally; however, that does not include North America. RedHill will receive an upfront payment for the rights to the medication, as well as milestone payments and royalties, which can total up to $60 million. Haynes Boone represented RedHill Biopharma with a team that included Texas lawyers Simin Sun(Houston),  Khalil Bryant (Houston) and Lisa Vasek (Houston).

©2025 The Texas Lawbook.

Content of The Texas Lawbook is controlled and protected by specific licensing agreements with our subscribers and under federal copyright laws. Any distribution of this content without the consent of The Texas Lawbook is prohibited.

If you see any inaccuracy in any article in The Texas Lawbook, please contact us. Our goal is content that is 100% true and accurate. Thank you.

Primary Sidebar

Recent Stories

  • TX Chief Justice ‘Urgent Memo’ to Legislature: Texas Judicial Pay is an ‘Embarrassment’ and Pleads for 11th Hour Pay Hike
  • Motion: Gateway Church Lead Counsel David Middlebrook ‘Must Be Disqualified’ 
  • President Names Career Prosecutor as NDTX U.S. Attorney
  • GATX, Brookfield to Purchase Wells Fargo Railway Fleet for $4.4B
  • P.S. — From Corporate Counsel to Clemency Crusader: Brittany K. Barnett’s Journey to Criminal Justice Reform

Footer

Who We Are

  • About Us
  • Our Team
  • Contact Us
  • Submit a News Tip

Stay Connected

  • Sign up for email updates
  • Article Submission Guidelines
  • Premium Subscriber Editorial Calendar

Our Partners

  • The Dallas Morning News
The Texas Lawbook logo

1409 Botham Jean Blvd.
Unit 811
Dallas, TX 75215

214.232.6783

© Copyright 2025 The Texas Lawbook
The content on this website is protected under federal Copyright laws. Any use without the consent of The Texas Lawbook is prohibited.