© 2017 The Texas Lawbook.
By Natalie Posgate
(March 31) – Two Houston-based deal teams from Locke Lord worked on two transactions this week valued at $507 million.
The first, led by corporate partner Joe Perillo, was for White Deer Energy’s $207 million sale of Oklahoma City-based Crescent Companies to Rockwater Energy. The all-stock transaction, which is technically a merger, will bring together two companies “with a shared belief in simplifying oilfield water management and logistics through innovation,” according to a joint release.
Perillo received assistance on the deal from partners Michael Blankenship, Steve Boyd, Jerry Higdon, Paul Pruett, Ed Razim, Buddy Sanders, David Taylor and Jeff Wallace; senior counsel DeLaina Mulcahy; and associates Lauren Corbeil, Laura Ferguson, Brooks Vanlandingham and Burke Wendt. Dallas partner Van Jolas also worked on the deal.
Last April, Perillo handled a previous deal for Houston-based White Deer when it bought cementing and coiled tubing assets from Liberty Oilfield Services, and again in September, when Perillo represented White Deer in its acquisition of Denver-based RockPile Energy Services.
In the second Locke Lord transaction, partners Mitch Tiras and Eric Larson represented Fortis Minerals II, in the $300 million equity commitment it received from EnCap Energy Capital Fund X that helped kick start the new company. Formed on March 20, Fortis II will engage in the acquisition of mineral and royalty interests.
Tiras and Larson worked on a similar deal last year for Fortis II’s predecessor company, Fortis Minerals, a company with the same focus. In that deal, Fortis Minerals also received an equity commitment from EnCap for $250 million.
Sarah McLean of Thompson & Knight led EnCap’s involvement in both Fortis Minerals transactions, along with Houston partner Todd Lowther. Houston associate Lisa McDonald also worked on the deal announced this week.
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