Free Speech, Due Process and Trial by Jury
In a second merger this week between publicly traded oil and gas producers, Oklahoma City-based Chesapeake Energy Corp. said Tuesday that it had agreed to buy WildHorse Resource Development of Houston for nearly $4 billion in cash, stock and debt. Claire Poole has the names of Texas lawyers involved in the deal.
Texas lawyers from three different firms had a hand in Denbury Resources’ $1.7 billion purchase of Penn Virginia Corp., the first of what’s expected to be a wave of mergers between publicly traded oil and gas producers. Claire Poole has the details in The Texas Lawbook.
The stocks of oil and gas exploration and production companies have been selling off recently, with one index down by around 18 percent so far this month. That’s led some industry observers to believe that mergers could begin to accelerate. And in Texas, there was a slight uptick in activity last week. The Lawbook's Claire Poole has it covered.
At the third quarter of 2018, Houston-based Vinson & Elkins ranks No. 1 in the combined value of their M&A transactions for Texas businesses. But exclusive data provided to The Texas Lawbook by Mergermarket shows the next 10 are headquartered outside Texas. In fact, four of the top 10 don't even have an office in the state. More inside.
Dallas District Judge Dale Tillery on Friday ordered Toyota Motor Corp. to pay a Dallas family $213 million – the bulk of a $242 million jury verdict from August that found the automaker liable for a 2016 rear-end accident that left two small children with permanent brain damage. Toyota says it will ask for a new trial. The Lawbook has the details.
Texas dealmaking slowed a bit last week, but continued the recent brisk tempo. Don't be surprised if there is a significant uptick in the making. The recently released Dykema survey reveals remarkable optimism for M&A activity in the coming year. The Lawbook's Claire Poole explains.
The U.S. Court of Appeals for the Fifth Circuit has affirmed a 2017 jury verdict that awarded $3 million to a member of the Saudi royal family in a breach of contract dispute. The ruling benefits Prince Mansour Bin Abdullah Al-Saud of the Kingdom of Saudi Arabia. Details here of the ruling.
Breitling Energy CEO Christopher Faulkner – the self-proclaimed ‘frack master’ – admitted Tuesday in federal court documents that he spent tens-of-millions of dollars of investor money on booze, strippers and expensive cars. The Texas Lawbook has full details.
The Federal Trade Commission on Friday dismissed its remaining claims against DIRECTV in the middle of a bench trial that once had $4 billion at stake. The dismissal is the denouement to an opinion issued by a federal judge in California in August that arguably killed the case for the FTC.
Jacobs Engineering Group Inc. of Dallas announced Monday that it agreed to sell its energy, chemicals and resources segment to Australia-traded WorleyParsons Ltd. for $3.3 billion. The move makes WorleyParsons the world's biggest provider of professional services in energy and resources. Claire Poole explains.
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