© 2017 The Texas Lawbook.
By Natalie Posgate
(Jan. 25) – Lawyers from Norton Rose Fulbright and Vinson & Elkins said they advised on a $1.2 billion deal involving the first large-scale crude oil gathering system in the northern Delaware Basin region of the Permian.
Houston-based Plains All American Pipeline said Monday that it would purchase the holding company of the gathering system, called the Alpha Crude Connector System, from Midland-based Concho Resources and Tulsa-based Frontier Midstream Solutions.
PAA General Counsel Richard McGee leaned on Houston corporate partner Ned Crady of Norton Rose Fulbright to lead PAA’s end of the deal. Crady received assistance from partners Ron Scharnberg, Andrew Price, Jane Snoddy Smith; senior counsel Ron Adzgery; of counsel Janet McQuaid; and associates Kasyn Stevenson, Samantha Speakmon, Rafe Schaefer, Jeff Pettit and Stella Tang. The deal team was primarily based in Houston and Austin, but also included an attorney from the firm’s Washington, D.C. office.
Concho General Counsel Travis Counts hired V&E partners Bryan Loocke and Matt Strock to handle Concho’s end of the deal. The V&E corporate deal team also included associates Alan Alexander, Megan Savage, Ali Choate and Erin Mitchell. Also advising were partner Todd Way and Julia Pashin on tax matters, partner Sean Becker on labor & employment matters, partner Stephen Jacobson on executive compensation/benefits matters and partner Larry Nettles on environmental matters.
The V&E deal team was primarily based in Houston and Dallas. Attorneys from the firm’s Washington, D.C. and New York offices were also involved.
Simmons & Company International and energy specialists at Piper Jaffray served as Concho’s financial advisors. PAA turned to Jeffries for financial advice.
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