Oil and gas exploration in the Permian Basin. (Photo: G B Hart/Shutterstock.com)

Houston lawyers at Kirkland & Ellis and Vinson & Elkins who worked on a $2.27 billion Permian Basin oil and gas deal, signed Monday morning, are accustomed to putting their personal lives on hold and devoting a weekend to wrapping up an agreement.

This time, they missed out on watching the Houston Astros play the New York Yankees in the American League Championship Series games on Saturday and Sunday nights.

"We followed them on our iPhones," Kirkland partner Doug Bacon said about the hometown Astros' play in the series, which is now tied at 1-1. A deal team Bacon helped lead represented Austin's Parsley Energy in an agreement to acquire Jagged Peak Energy of Denver in a $2.27 billion stock and debt deal.

It may have been worse for Steve Gill, who led the Vinson & Elkins team representing Jagged Peak. Gill and his wife had tickets for Sunday night's game at Minute Maid Park in Houston, but their 13-year-old went in Gill's place because he was working.

While they learned Friday that the parties wanted them to wrap up the deal over the weekend, lawyers on both sides of the transaction said no major complications marred progress.

Terms of the definitive merger agreement call for Parsley to acquire Jagged Peak for stock valued at $1.645 billion and also assume $625 million of Jagged Peak debt.

The transaction, which has been unanimously approved by the boards of directors of both companies, is expected to close in the first quarter of 2020 following shareholder approval.

The deal had been in the works for a couple of months, but came together quickly over the weekend, said Sean Wheeler and Bacon, two of the Kirkland corporate partners in Houston who led Parsley's team.

"The good news is we had a huge team and all were super talented and Doug and I were able to bring together the team," Wheeler said.

Gill said they got the deal done because the parties had reached a place where they agreed on a valuation, and they both see the transaction as a "strategic win" between two companies with complementary assets in the Permian Basin.

Kirkland's team for Parsley is led by corporate partners Wheeler, Bacon and Kim Hicks, all of Houston; capital markets partners Julian Seiguer and Michael Rigdon, both of Houston; transactional partner Anthony Speier of Houston; executive compensation partner Scott Price of New York; environmental transactions partner Paul Tanaka of Houston and San Francisco; and tax partner David Wheat of Houston and Dallas.

Jagged Peak's team from V&E is led by corporate partner Gill of Houston, with assistance from executive compensation and benefits partner Shane Tucker of Dallas; labor and employment partner Sean Becker of Houston; tax partner John Lynch of Houston; antitrust partner Hill Wellford of Washington, D.C.; finance partner Guy Gribov of Houston; and litigation partners Michael Holmes and Craig Zieminski, both of Dallas.