© 2016 The Texas Lawbook.
By Natalie Posgate
(Sept. 12) – Anadarko said Monday that it struck a deal with Freeport McMoRan Oil & Gas to purchase its deepwater Gulf of Mexico assets for $2 billion.
A team of Houston-based lawyers from Latham & Watkins is advising The Woodlands-based Anadarko on the deal. Anadarko General Counsel Robert Reeves turned to Houston partner Michael P. Darden to lead the Latham deal team. Darden received assistance from oil and gas transactions associates Chris Bennett, Sean McKinley, Barret Schitka and Brock Naeve.
Other Houston Latham attorneys on the deal included corporate partners Michael Dillard and Sean Wheeler, tax partner Tim Fenn and associate Jim Cole, environmental partner Joel Mack and employee benefits partner David Della Rocca. Attorneys from the firm’s Washington, D.C. office advised on antitrust and environmental matters.
Anadarko said in a statement that the acquisition will double its ownership in the Gulf’s Lucius development to approximately 49 percent. It also will enable accelerated investment in Anadarko’s Delaware and DJ Basin assets.
Jeffries is serving as Anadarko’s financial advisor in the transaction.
The deal is expected to close by the end of the year.
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