UPDATED – Porter Hedges Leads Two Aubrey McClendon Shale Deals for $4.25 Billion

© 2014 The Texas Lawbook.

By Mark Curriden, JD
Senior Writer for The Texas Lawbook

(June 9) – When Porter Hedges hired Jeremy Mouton as a partner last August, firm managing partner Rob Reedy said he was an “ideal fit for the firm and our clients.”

Reedy was right.

On Monday, Oklahoma City-based American Energy announced that it was acquiring assets in Texas and West Virginia from two separate oil and gas companies for a combined $4.25 billion.

Mouton, a former assistant general counsel at Anheuser-Busch and partner at the Commercial Law Group in Oklahoma City, was the lead legal advisor to American Energy in both deals. American Energy is led by former Chesapeake Energy Corp. founder and CEO Aubrey McClendon. The Commercial Law Group has acted as primary outside counsel for Chesapeake on many matters.

Baker Botts and Latham & Watkins represented the respective sellers in the two transactions.

In one deal, American Energy paid $2.5 billion to acquire about 63,000 acres in the southern Permian Basin from Denver-based Enduring Resources. The assets are primarily in Reagan and Irion Counties in Texas.

Enduring Resources turned to Latham corporate partners Michael P. Darden and Michael Dillard – both based in Houston – to lead its side of the transaction. Latham corporate associate James Robertson, oil and gas transactions partner Michael King, corporate partner Catherine Ozdogan, tax law partner Tim Fenn and environmental law partner Joel Mack also advised on the matter.

In the second transaction, American Energy paid Boca Raton-based East Resources in the purchase of 75,000 acres in the southern Utica and southern Marcellus shale plays for $1.75 billion.

Hugh Tucker, a Baker Botts partner in Houston who heads the firm’s global oil and gas practice, is the lead legal advisor for East Resources. Other Baker Botts lawyers involved in the transaction are Houston partners Anthony Speier, Tull Florey, James Chenoweth and Robert Fowler. Dallas partners Matt Larsen and Jennifer Trulock and Austin partner Aileen Hooks also played key roles.

Baker Botts associates who were involved include David Castro, Chris Heasley, Zackary Pullin and Andrew Thomison.

Beyond Mouton, the Porter Hedges team working for American Energy include Corey Brown, Mac Marshall, Deborah Ko, Brian Rose and Denny Ng.

Okalhoma City-based Commercial Law Group and Sullivan & Cromwell, a New York corporate firm, also advised AEP in the transactions.

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