Anthony Lannie, executive vice president and general counsel of Apache Corp., turned to Bracewell & Giuliani for the Houston-based oil and gas exploration and production company's sale of Gulf of Mexico Shelf operations and properties to Fieldwood Energy LLC for $3.75 billion in cash.
Vinson & Elkins represents Fieldwood, a portfolio company of New York City private investment firm Riverstone Holdings, in the acquisition.
On July 18, Apache announced it has agreed to sell the Gulf of Mexico Shelf operations and properties to Fieldwood, with Fieldwood to assume all asset retirement obligations for the properties, which Apache estimated at about $1.5 billion. Apache announced that it will retain 50 percent of its ownership interest in all exploration blocks and in horizons below production in developed blocks.
The sale is part of Apache's previously announced plan to divest $4 billion in assets by the end of the year.
The transaction is effective as of July 1, and is expected to close by Sept. 30 pending customary regulatory approvals and closing conditions.
The Bracewell team for Apache includes partners G. Alan Rafte, Bruce Jocz and Bryan Loocke, all of Houston, and Kristen Campana, Elizabeth McGinley and Robin Miles, all of New York. Also, Houston associates Michael De Voe Piazza, Stephen Boone and Christopher Miller are working on the acquisition, along with New York associate Laura Martone.
In-house lawyers at Apache assisting Lannie are assistant general counsel Richard Black, corporate counsel Raj Sharma, and senior counsel Steve Williams and Nora Dobin.
Mergers-and-acquisitions partner David Cohen of New York leads V&E's team for Fieldwood. Others are partners Marc Rose of Dallas and Shay Kuperman of Houston, and associates Mingda Zhao and Alan Alexander, both of Houston, associate Carson Sieving of New York, and associate Scott Fulford of Dallas.
The V&E lawyers also include mergers-and-acquisitions partner Ted Stockbridge, employment partner Sean Becker, environmental partner Larry Nettles and energy regulatory partner James Olson, all of Houston; and finance partner Christopher Dawe and tax partners David Peck and David D'Alessandro, all of Dallas.