© 2015 The Texas Lawbook.
By Brooks Igo
(March 1) – Anadarko Petroleum Corporation announced last week that it closed on an agreement to sell a portion of its future royalties associated with existing soda ash and coal leases in Sweetwater County, Wyo. to a third party for $420 million.
Anadarko General Counsel Amanda McMillian turned to long-time outside counsel Vinson & Elkins to advise the Houston-based oil and gas exploration and production company on the future royalties sale.
V&E’s corporate deal team was led by energy transactions partner Mark Spradling, who received assistance from associates Danielle Gomes, Yin Wang and Mike LeFevre.
The V&E deal team also included Houston M&A and capital markets senior associate Thomas Zentner and associates Austin March and Jackson O’Maley; Houston corporate finance partner Steve Tarry and counsel Noelle Alix; tax partners Gary Huffman (Washington, D.C.) and Todd Way (Dallas) and associate Brian Russell (Dallas); and Houston environmental counsel Larry Pechacek.
In the press release detailing the transaction, Anadarko announced a total of $1.3 billion in monetizations since the beginning of the year.
On Feb. 10, the company signed a sales agreement with an affiliate of Zarvona Energy LLC to divest its interest in the East Chalk area for approximately $105 million.
Anadarko also announced an agreement with Western Gas Partners (WES), expected to close on March 15, where WES will acquire a 100 percent interest in Springfield Pipeline LLC from Anadarko for $750 million.
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