Houston lawyers are working on each side of a $6 billion Eagle Ford asset acquisition announced on Nov. 20.
Devon Energy Corp. announced it reached a definitive agreement to acquire the Eagle Ford oil play assets from the privately held GeoSouthern Energy, which is based in The Woodlands. Simpson Thacher & Bartlett represents GeoSouthern, while Skadden, Arps, Slate, Meagher & Flom represents Oklahoma City-based Devon.
Devon will pay $6 billion in cash for the assets, which are located in DeWitt and Lavaca counties in Texas. The acquisition is expected to close during the first quarter of 2014. It’s subject to customary purchase price adjustments, terms and conditions.
Blackstone Group, GeoSouthern’s corporate partner, will end its ownership in the company through the Devon transaction.
The Simpson Thacher lawyers for GeoSouthern include mergers-and-acquisitions partner Andrew Calder and associates Mickey Baden and John Pitts, all of Houston; credit associate Matthew Einbinder of Houston; tax partner Nancy Mehlman and associate Adam Wells, both of New York City; environmental senior counsel Adeeb Fadil and associate Noreen Lavan, both of New York; executive compensation and employee benefits partner Andrea Wahlquist and associate Jeannine McSweeney, both of New York; antitrust senior counsel Michael Naughton of New York, and intellectual property associate Marcela Robledo of Palo Alto.
The Skadden team for Devon include mergers-and-acquisitions partner Frank Bayouth, counsel Christian Callens and associate Frederick Day, all of Houston; energy and infrastructure projects associate David Passarelli and corporate associate Kelly Whitebread, both of Houston; banking partners Sal Guerrera of New York and Lynn McGovern of Chicago; executive compensation and benefits partner Neil Leff of New York; antitrust partner John Lyons of Washington, D.C.; intellectual property and technology partner Jose Esteves of New York; tax partner Sally Thurston of New York and associate Rebecca Brown of Washington, D.C.; corporate finance partner Richard Aftanas of New York; and environmental and climate change counsel Stacy Kray of Palo Alto.