© 2014 The Texas Lawbook.
By Natalie Posgate – (July 7) – A set of Houston Vinson & Elkins lawyers led two deals Monday worth close to $700 million related to assets in the Marcellus Shale – with Texas attorneys from Thompson & Knight on the other side of one of the deals.
In that deal, New York-based Warren Resources, Inc. will acquire essentially all of Colorado-based Citrus Energy Corporation’s Marcellus assets for $352.5 million. The assets currently produce approximately 82 million net cubic feet per day of natural gas. The transaction is expected to close in early August.
T&K represents Warren, with Houston partners Alan Baden and Hunter White leading the deal. The rest of the T&K team includes Dallas partner Jessica Hammons and Houston partners Richard Hemingway, Roger Aksamit and Jim Morriss, who is also the firm’s Austin Office Leader.
Houston V&E partner John B. Connally led the deal for Citrus, with fellow Houston partner Jim Prince and associates Fiona Worrall, Chris Boling and Julian Seiguer assisting.
Previously, the firm has represented Citrus in credit facilities, certain midstream transactions and asset purchase and sale transactions.
In the other deal, V&E represents Pennsylvania-based Rice Energy Inc. in its acquisition of approximately 22,000 net acres and 12 developed Marcellus wells from Chesapeake Appalachia, LLC and its partners for about $336 million.
Houston associate Elizabeth Cox and partner Shay Kuperman serve as the lead attorneys for the V&E team, which also includes fellow Houston partners Daniel Hatch and Larry Nettles, as well as Dallas partner Todd Way.
Lawyers from Oklahoma City-based Commercial Law Group are advising Chesapeake in the transaction, which is expected to close in August 2014.
This January, V&E closed Rice’s initial public offering, which raised more than $1 billion. V&E also represented Rice in February when its subsidiary, Rice Poseidon Midstream LLC, agreed to acquire $110 million worth of Marcellus assets from a subsidiary of Houston-based M3 Midstream LLC.
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