Fort Worth-based TPG Growth said Tuesday that it is acquiring Dallas pipeline company, Discovery Midstream. The financial terms are undisclosed, but the legal teams were public: Weil is representing Discovery, while V&E is representing TPG. Details here.
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NextEra Blasts PUC’s Rejection of Oncor Acquisition
NextEra Energy is making one final plea with the Texas Public Utility Commission to reconsider its decision earlier this year that rejected the Florida power company’s $18.7 billion acquisition of Dallas-based Oncor. In a blistering 44-page petition, NextEra argues that the PUC overstepped its authority, ignored evidence, misinterpreted Texas laws and simply used bad judgment when it refused to allow NextEra to purchase Oncor. The Texas Lawbook has complete details.
SCOTX Rules In Cross-Conveyance Case: A Deal’s A Deal
In a long-running dispute over payments from a gas well mistakenly included in two separate pooled drilling units, the Texas Supreme Court sides with the royalty owners. The court says that Oklahoma-based Samson Exploration’s application of property law to correct a contractual error: “a theoretical construct that holds no water.”
Millennial Energy Hires Clay Brett as New GC
Houston-based Millennial Energy Partners has hired, as you might expect, a millennial to be the independent, privately-held oil and gas firm’s first general counsel. Former Wilkie Farr lawyer Clay Brett, 30, will lead the young company’s corporate legal department.
SCOTX: Noble Energy Owes $63 million in Closely Watched Bankruptcy Assets Case
The Texas Supreme Court says that obligations assumed in a 1999 bankruptcy require Noble Energy to indemnify ConocoPhillips in a $63 million oil field contamination agreement with the State of Louisiana. The Texas Lawbook has the details.
Bizarre $12M Trade Secrets Case for Quantlab Finally Nears an End
A decade-long legal battle between a privately-held Houston financial research firm and Ukrainian mathematician and a Wisconsin securities lawyer nicknamed Emo over secret algorithms and mathematical formulas that aid high frequency trading is finally coming to an end thanks to a decision by the Fifth Circuit. The story involves FBI raids, secret meetings at a Greek Orthodox monastery in Arizona and the patron saint of St. Petersburg. Quantlab GC Tim McInturf of Houston discusses the importance of this bizarre trade secrets case and the work of his outside counsel.
Mayer Brown, Thompson & Knight Secure Newest Winning Bids in Mexico Energy Reform
A group of Texas lawyers from Mayer Brown and Thompson & Knight led successful bids for two partnering companies that participated in the most recent auction related to Mexico’s energy reform earlier this week, which involved blocks of shallow water areas of Mexico that were up for grabs for the exploration and extraction of hydrocarbons.
Mayer Brown, Thompson & Knight Secure Newest Winning Bids in Mexico Energy Reform
A group of Texas lawyers from Mayer Brown and Thompson & Knight led successful bids for two partnering companies that participated in the most recent auction related to Mexico’s energy reform earlier this week, which involved blocks of shallow water areas of Mexico that were up for grabs for the exploration and extraction of hydrocarbons.
Wilson Elser Leads $1B Sale of George Clooney’s Casamigos Tequila
When is a tequila shot before noon warranted? When you facilitate the $1 billion sale of George Clooney’s tequila business, of course.
Oil & Gas Lawyer Jumps to King & Spalding
Houston M&A lawyer Peter Hayes is the ninth lawyer in 2017 to join King & Spalding in Texas.