The Lone Star State is a driving force in the energy business, so it’s not surprising that four of the 10 largest Texas deals in 2013 were energy transactions. The following deals, involving at least one Texas-based company, were announced in 2013. Sources include Texas Lawyer, The AmLaw Daily, Thomson Reuters and corporate press releases.
Description: Devon Energy Corp., based in Oklahoma City, acquired Eagle Ford oil play assets from privately held GeoSouthern Energy, based in The Woodlands, for $6 billion in cash. Closed in February 2014.
Counsel to Devon: Skadden, Arps, Slate, Meagher & Flom
Counsel to GeoSouthern: Simpson Thacher & Bartlett
Description: Regency Energy Partners of Dallas acquired PVR Partners of Radnor, Pa., in a deal valued at $5.6 billion. Closed in March 2014.
Counsel to Regency: In-house; Baker Botts
Counsel to PVR: Vinson & Elkins
Description: Fieldwood Energy, a portfolio company of New York City private investment firm Riverstone Holdings, acquired Gulf of Mexico Shelf operations and properties from Apache Corp. of Houston for about $5.25 billion, including $3.75 billion in cash and $1.5 billion in assumed liabilities. Closed in September 2013.
Counsel to Apache: In-house; Bracewell & Giuliani;
Counsel to Fieldwood: Vinson & Elkins; Simpson Thacher & Bartlett
Description: Kinder Morgan Energy Partners, based in Houston, acquired Houston-based Copano Energy for about $5 billion. Closed in May 2013.
Counsel to KMP: In-house; Bracewell & Giuliani; Weil, Gotshal & Manges
Counsel to Copano: Wachtell, Lipton, Rosen & Katz
Counsel to TPG, Copano’s largest unit-holder: Vinson & Elkins