Three oil & gas deals moved last week totaling more than $4 billion. They involved Earthstone, Gibson Energy and Patterson-UTI. The apparent strategy behind each deal — not to mention their structure — suggests something different about O&G these days, as well as the current market. The Roundup this week takes a look at each of the deals, as well as the 151 lawyers behind who reported their role in transactions last week.
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Clifford Chance Adds Ninth Partner to New Houston Operation
Baker Botts transactional partner Jonathan Bobinger became the ninth lawyer on Tuesday announced by Clifford Chance to be joining the London-based corporate law firm’s new Houston office.
Blackstone Picks Up Interest in Indiana Electric Utility from NiSource for $2.15B
If FERC clears the transaction, NIPSCO will remain a part of NiSource, which will keep an 80.1 percent stake and continue operating the company. The terms of the deal implies a NIPSCO equity value of $10.8 billion. Latham advised Blackstone and McGuireWoods advised NiSource on the deal. Claire Poole has the details.
Civitas Enters Permian by Acquiring Assets from NGP-backed Hibernia, Tap Rock for $4.7B
Kirkland advised the publicly traded buyer, whose management has spoken about wanting to diversify its assets, and Baker Botts and V&E assisted the sellers, which were said to have wanted to shed their assets.
Houston Public Finance Group Jumps to Jackson Walker
A team of four public finance partners from Orrick have moved to Jackson Walker. The Texas-based firm also said it has added a tax partner from California.
Litigation Roundup: Suit Over ‘Rushed’ $788M Sale May Get Axed, SCOTX to Hear Fen-Phen Settlement Case
In this edition of Litigation Roundup, a Texas federal judge threatens to toss a minority investor suit against Blackstone Inc., a Houston boutique notches a PTAB win against Apple, and the Texas Supreme Court agrees to hear a suit stemming from the handling of a fen-phen settlement.
Texas Access to Justice Gets Funding Boost After Legislative Session
The 88th Texas legislative session included $3.7 million in extra funding for civil legal services earmarked for youth dealing with pandemic-related mental health issues. However, lawmakers declined to provide funding for a proposal to use remote technology to deliver legal services through kiosk-based centers.
The Legislature also passed a bill that will provide an additional source of funding for pro bono civil legal services and another bill that will benefit low-income individuals who face language barriers in the courtroom. Natalie Posgate goes into detail on each, as well as the storied history of how pro bono work became a mainstay in the state’s budget.
P.S. — State Bar’s Pro Bono Awards, ASC’s Annual Fundraising Luncheon, TAJF’s 2023 Equal Justice Works Fellows
This edition of P.S. highlights Attorneys Serving the Community’s annual fundraising luncheon benefiting a Dallas-area women’s substance abuse recovery center, several attorneys who will be recognized by the State Bar of Texas next week for their pro bono work and the five Equal Justice Works fellow sponsored by the Texas Access to Justice Foundation.
Which State Leads the Way? A Comparison of Data Privacy Laws in Texas and California
The absence of comprehensive federal privacy regulation in the United States has created an open field for states to take the lead in addressing individual data protection and privacy rights. The first state to take the field was California. More recently, Texas joined the game by passing the Texas Data Privacy and Security Act. While both California’s and Texas’ laws share the common goal of safeguarding personal information and empowering consumers with new data rights, there are some significant differences in scope and coverage.
This article examines the key aspects of both privacy laws, illuminating their similarities, differences and their expected impacts.
Fifth Circuit Rejects Houston IP Law Firm’s Suit Against Bank Over PPP Funds
The U.S. Court of Appeals for the Fifth Circuit ruled that a federal judge in Houston correctly rejected Ramey LLP’s claims against Amegy Bank’s parent company, Zions Bancorporation, regarding the bank’s decision to freeze and seize $249,300 related to Ramey’s forgivable loan request under the Paycheck Protection Program.