BigTex Firms Advise on Eagle Ford Shale Acquisition
Three Texas firms represent WildHorse Resource Development of Houston in its pending purchase of Eagle Ford assets from Anadarko Petroleum Corp.
May 16, 2017 at 02:00 AM
28 minute read
BigTex firms Locke Lord, Vinson & Elkins, and Akin Gump Strauss Hauer & Feld are representing WildHorse Resource Development in its pending $625 million purchase of Eagle Ford assets from Anadarko Petroleum Corp. and affiliates of Kohlberg Kravis Roberts & Co. (KKR). Two out-of-state firms with Texas offices represent the other side, with Sidley Austin representing Anadarko and Kirkland & Ellis advising KKR on the deal.
The Eagle Ford Shale is considered the largest oil & gas development in the world.
On May 11, Houston-based WildHorse announced a definitive agreement to acquire about 111,000 net acres and associated production from Anadarko and the KKR affiliates. Terms of the agreement call for WildHorse to pay $556 million in cash to The Woodlands-based Anadarko and provide 6.3 million shares of WildHorse common stock valued at about $69 million to KKR. The transaction is expected to close by June 30, with an effective date of Jan. 1.
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