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M&A data shows that large Texas-based law firms hemorrhaged talent and long-time, local clients to elite national firms that set up new outposts in Dallas and Houston during the past six years. The same data also indicates that some of the legacy Texas firms – Akin Gump, Baker Botts, Bracewell and V&E – are increasingly exporting their expertise in oil and gas law to energy companies and private equity firms headquartered beyond the state’s borders.

“The Texas legal market is maturing before our eyes,” says law firm consultant Ward Bower.

M&A data shows that large Texas-based law firms hemorrhaged talent and long-time, local clients to elite national firms that set up new outposts in Dallas and Houston during the past six years. The same data also indicates that some of the legacy Texas firms – Akin Gump, Baker Botts, Bracewell and V&E – are increasingly exporting their expertise in oil and gas law to energy companies and private equity firms headquartered beyond the state’s borders.
“The Texas legal market is maturing before our eyes,” says law firm consultant Ward Bower.

Major news organizations want the Supreme Court of Texas to maintain strong libel defense protections for journalists who report on government investigations. The media outlets, including The Dallas Morning News and the Houston Chronicle, say journalists should be able to report on factual information obtained from government reports or official proceedings without fear of being sued for failure to include information not contained in the report and unknown to them.

Pennsylvania-based Rex Energy said earlier this week that it will join forces with New York investment firm Benefit Street Partners to develop 48 wells in Rex Energy’s Moraine East and Warrior North operated areas.