In the latest big shale deal, Vinson & Elkins is advising Denbury Resources on the $1.6 billion sale of its stake in the Bakken shale in Montana and North Dakota to Exxon Mobil, the world’s largest integrated oil company.
The Bakken formation is one of North America’s hottest regions for the energy industry, according to The Wall Street Journal. The Am Law Daily reported last month that the oil boom centered in the Bakken region was creating a constitutional crisis for courts in North Dakota, as well as providing opportunities for the state’s law firms.
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