© 2016 The Texas Lawbook.
By Natalie Posgate
(Nov. 30) – Riverstone Holdings-backed Centennial Resource Development said Monday that it will acquire 100 percent of Silverback Exploration’s interests in upstream assets located in the Reeves County area of the Permian Basin for $855 million.
A company release said the acquisition will make Denver-based Centennial one of the largest operators in the Delaware Basin, with more than 77,000 contiguous net acres.
Centennial hired a non Texas-based group of attorneys from Weil, Gotshal & Manges to represent it on the deal.
Riverstone turned to a corporate deal team from Latham & Watkins’ Houston office to lead its end of the deal. Leading the team were partners Bill Finnegan, Michael P. Darden and Debbie Yee, as well as associates Jason Withers, Sean McKinley, Benjamin Gelfand, A.J. Million and Jack Traylor and counsel Kiran Dickinson from the firm’s Washington, D.C. office.
Houston attorneys advising on other aspects of the deal included tax associate James Cole and environmental partner Joel Mack and associate Alicia Handy. Attorneys from the firm’s Washington, D.C. and New York offices provided advice on tax, employee benefits and antitrust matters.
San Antonio-based Silverback hired a Fort Worth-based team from Kelly Hart & Hallmann to handle its end of the negotiations. The team was led by partner Todd Spake and included partners David Cook and Tom Hegi and associates Drew Neal and Seth Burt.
The transaction is expected to close on Dec. 30.
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