After closing a $9.5 billion oil and gas megadeal that merged two oil and gas producers, creating the largest drilling program in the Permian Basin, M&A attorney Stephen M. Gill said he's interested to see whether other large drillers will follow suit.

“Does it cause them to want to consider further consolidation in that area? That's the question we have been asking,” said Gill, partner in Vinson & Elkins in Houston. “We haven't seen anyone else shake free yet, but there's an expectation other folks will start evaluating—particularly the bigger guys—saying, 'Do we want to consolidate our position?'”

Gill oversaw a multidisciplinary team of 17 other Vinson & Elkins lawyers to represent RSP Permian in its acquisition by Concho Resources, an all-stock transaction deal that just closed on July 19. With 27 rigs, it created the largest oil and natural gas producer from unconventional shale in the Permian Basin.

“It's the hottest spot in the country for drilling,” Gill noted.

Gill's M&A practice for public and private companies and private equity firms has spanned a number of industries, such as defense and aerospace, finance, chemicals, health care, telecommunications and technology. But being based in Houston with its active energy industry, and working at the well-known energy law firm Vinson & Elkins, has brought Gill his fair share of deals for oil and natural gas companies. Added up, it can impact society at large.

“I don't know any one deal in and of itself has meaningful impact on consumers and the price of the commodity, but the deals over time do benefit society,” Gill explained. “I do think what we do adds to the efficiency of the way, particularly for oil and gas North American producers, they are able to produce the natural gas and oil and therefore compete in the broader energy market globally.”

Gill notched his belt with several big oil and gas deals in 2017.

For example, Gill alongside Vinson & Elkins partner Doug McWilliams led a team of 31 other Vinson & Elkins lawyers to represent Patterson-UTI in its acquisition of Oklahoma City-based Seventy Seven Energy. The all-stock transaction was valued at roughly $1.76 billion, including $336 million in debt, Texas Lawyer reported in December 2016. The energy industry megadeal closed in April 2017, combining the two companies, which both build and operate high-spec drilling rigs, and provide contract drilling and pressure pumping services.

Three months after Vinson & Elkins helped Gainesville-based water services company Select Energy Services go public in April 2017, Gill lead a team of 29 Vinson & Elkins lawyers in Select Energy's merger with Rockwater Energy Solutions. After the deal closed in November 2017, the merged company's annual revenue was up to $1.3 billion. Both companies work in the oil and gas industry: Select provides water services, while Rockwater provides chemical products and expertise related to water solutions. All of the water-related services consolidated under the Select brand, while Rockwater's brand kept the chemicals business unit.

In November 2017 it was announced that two offshore oil-and-gas exploration and production companies that operate in the Gulf of Mexico would merge. Vinson & Elkins' client, Houston-based Talos Energy, acquired Lafayette, Louisiana-based Stone Energy Corp. The deal involved an all-stock combination valued at $1.9 billion, Texas Lawyer reported. The deal closed in May and the company plans to headquarter in Houston. Gill helped lead a team of 20 other Vinson & Elkins lawyers to represent Talos.

Gill earned his law degree from Tulane University Law School in 2001, and he's worked at Vinson & Elkins ever since. He said the thing he enjoys most about his M&A practice is counseling companies' board members, who depend on Gill for guidance through the process.

“The public M&A work is bet-the-company kind of work, and has a lot of scrutiny from the media and shareholders, and ultimately, there's usually litigation involved. It can be a daunting process,” Gill said. “I really enjoy helping people that want to do good by the shareholders, want to do what's in the best interests of the company, navigate all that to come to a good result.”

Angela Morris is a freelance journalist. Follow her on Twitter at @AMorrisReports.