The sale is the latest in a string of major oil and gas transactions yielding work for corporate lawyers around the globe. For BP, it represents the latest divestiture by the world’s third-largest integrated oil and gas company as it seeks to raise money to offset mounting cleanup costs and expenses associated with the
largest oil spill in U.S. history two years ago
in the Gulf of Mexico.
Gardere energy industry practice head Douglas Eyberg and energy partner Timothy Spear are leading a team of lawyers from the Dallas-based Am Law 200 firm advising BP on its current $5.55 billion sale of a portfolio of five properties in the Gulf of Mexico to Plains.
Michael Darden, a former oil and gas practice head at
Latham open an office in Houston
when he joined the firm as its global oil and gas industry chair in early 2010, is advising Plains on its proposed transaction with BP along with Latham corporate partner Jeffrey Munoz, tax partner Laurence Stein, and employee benefits partner David Della Rocca.
BP’s Gulf of Mexico asset sale isn’t the only major oil and gas deal to be announced in recent days.