© 2017 The Texas Lawbook.
By Natalie Posgate
(Jan. 17) — Houston-based Noble Energy said Monday that it will acquire all the outstanding stock of Clayton Williams Energy, a Midland-based independent E&P company, for $2.7 billion.
The deal is evidence of continued growth for Noble, which went public in September when it closed a $363 million initial public offering.
Houston lawyers from Skadden Arps Slate Meagher & Flom, Latham & Watkins and Bracewell were involved in the transaction, which the companies say will create the industry’s second largest acreage position in the Permian’s Southern Delaware Basin.
Noble Energy General Counsel Arnold Johnson leaned on Houston corporate partners Frank Bayouth and Eric Otness of Skadden and J.J. McAnelly of Bracewell to handle Noble’s end of the deal. The Skadden corporate deal team also included Houston associates Christopher Baeza, Rebekah Reneau, Pete Osornio and Marc-Anthony Delgado. Tax attorneys from Skadden’s New York office also advised.
The Bracewell deal team also included partners Scott Sanders, Matt Paulson, Emily Leitch, Robert Nichols and Stuart Zisman, and associates Molly Butkus, Lucas Tanner, Kate Barrington McGregor, Jonathan Seliger, John Stavinoha, Jackie Zhong, Andrew Monk, Casey Ragan and Elizabeth Eoff.
Attorneys from Bracewell’s New York and Washington, D.C. offices also advised on the deal.
Clayton Williams General Counsel Mark Tisdale turned to Houston corporate partners Michael Dillard and John Greer of Latham to lead its end of the deal. Others on the primarily Houston-based Latham corporate deal team included associates David Stott, Emily Korinek, Sean Ehni, Corey Allen, Madeleine Neet, Alice Parker and Michelle Synhorst. Latham attorneys advising on other aspects of the deal included tax partner Tim Fenn and associate Bryant Lee; environmental partner Joel Mack and associate Alicia Handy; and attorneys specializing in benefit and compensation, tax and antitrust law from the firm’s Washington, D.C. and Century City offices.
Petrie Partners provided exclusive financial advice to Noble, while Clayton Williams turned to Evercore and Goldman Sachs for such services.
The deal is expected to close in the second quarter of this year.
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