© 2016 The Texas Lawbook.
By Natalie Posgate
(Sept. 27) – Detroit-based DTE Energy said Monday that it will purchase 100 percent of the Appalachia Gathering System and 55 percent of Stonewall Gas Gathering from two Houston companies, M3 Midstream and Vega Energy Partners, for $1.3 billion.
The assets gather natural gas produced in the Appalachia region and provide access to multiple markets, including the Great Lakes region, through interconnections with various gas transmission projects that are currently being developed by DTA and Spectra Energy. The gas gathering networks the new assets will connect to serve the Midwest, Ontario and Northeast regions.
DTE turned to Houston Jones Day partners Omar Samji and Jeff Schlegel and associate Alex Wilde to lead its end of the deal. They received M&A assistance from Dallas associates Osman Ahmed and Kyle Park.
The rest of the Jones Day deal team included partners Bruce McDonald and Joanne Bush and associate Melissa Pick in Houston, as well as partners David Lowery, Todd Wallace, Louis Jenull and Kirk Lyda and associates Andy Van Noord, Conrad Steele and Kelly Latta in Dallas.
M3 turned to Houston Vinson & Elkins partner Doug Bland to lead its end of the deal. He received M&A assistance from Houston associates Alan Alexander, Megan Savage and Kyrie Hayden. Other V&E attorneys on the deal included Houston partners Larry Nettles, Sean Becker and Stephen Jacobson; Houston associates Guy Gribov, Alex Kamel and Ryan Hunsaker; Dallas partner Todd Way; and Dallas associates Julia Pashin and Will Russ.
Representing Vega Energy in the deal was a Houston-based team from Norton Roes Fulbright. Partner Ned Crady led the deal team, which also included partners Bobby Phillpott and David Peterman and associates Kasyn Stevenson and Mark Hamrick.
The transactions are expected to close in the fourth quarter of 2016.
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