|Gardere Mergers & Acquisition Practice Group Attorneys noted in Texas Lawyer's newspaper article |
Deal of the Week: Plains Exploration & Production to Purchase Oil and Gas Properties
|September 17, 2012 11:51 pm|
Plains Exploration & Production Co. (PXP) of Houston turned to lawyers from Latham & Watkinsin its pending $5.55 billion purchase of Gulf of Mexico oil and gas properties from BP America Production Co. and BP Exploration & Production Inc.
BP, a UK company, turned to a team from Gardere Wynne Sewell.
On Sept. 10, PXP announced a definitive agreement to buy the deepwater Gulf of Mexico properties from BP. The properties include the BP-operated Marlin, Dorado, King and Horn Mountain Fields, all with a 100 percent working interest; the Holstein Field (50 percent working interest); BP non-operated Diana-Hoover Field (33.3 percent working interest) and non-operated Ram Powell Field (31 percent working interest).
The transaction is expected to close by the end of the year, and it would be effective Oct. 1. It is subject to preferential rights, title and environmental due diligence and other customary closing conditions.
Mergers-and-acquisitions partners Douglas Eyberg and Timothy Spear of Houston lead the Gardere team representing BP in the transaction, with assistance from associates Eunice Song and Rex Baker IV of Houston; Jennifer Smith of Austin; and Austin Ke of Dallas. Others, all of Houston, are partners Charles Meacham and Frank Putman and associates Khurram Jiwani and Felisa Sanchez.
Copyright 2012. ALM Media Properties, LLC.
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