REPRESENTATIVE TRANSACTIONS
Includes transactions handled prior to forming Michael Byrd Law
Advised Diamondback Energy, Inc. in its acquisition of all leasehold interests and related assets of Guidon Operating LLC in exchange for 10.63 million shares of Diamondback common stock and $375 million cash.
Represented Diamondback Energy, Inc. in connection with its $2.2 billion acquisition of QEP Resources.
Advised a private E&P company in its acquisition of oil and gas assets, in exchange for a combination of company equity interests and cash. The sign and close transaction was fully negotiated and closed in two weeks and involved complex post-closing adjustments for title and environmental defects and indemnity claims.
Advised Diamondback O&G LLC in a Participation and Development Agreement whereby an affiliate of The Carlyle Group will provide $620 million to fund drilling programs in the Permian Basin, the majority of which will come out of production revenue from the drilling programs.
Obtained a complete victory on behalf of Yates Energy Corporation in the Texas 4th District Court of Appeals in a dispute over conflicting claims to valuable mineral rights in the heart of the Eagle Ford Shale oil field.
Represented Sanchez Energy Corporation in a joint development agreement with Blackstone Group LP for a $2.3 billion acquisition of Eagle Ford Shale assets from Anadarko Petroleum Corporation. The transaction more than doubled Sanchez’s position in the Eagle Ford Shale, made it one of the largest operators in the Western Eagle Ford region and significantly increased its stock price.
Counseled Diamondback Exploration Inc. in a $2.43 billion acquisition of oil and gas assets in the Delaware Basin, including 76,000 prime net acres in Pecos and Reeves counties. The transaction, which included complex indemnity provisions and leasing options, was negotiated and documented in only eight days and doubled Diamondback’s prime drilling inventory.
Represented Newfield Exploration Company in the $588 million sale of its Granite Wash assets in Texas and Oklahoma to Templar Energy LLC. Negotiated and successfully disputed all title defects asserted by the buyer, saving the client more than $27 million in purchase price adjustments.
Was the primary drafter of the statute allowing Marcellus Shale operators in Pennsylvania to drill horizontal allocation wells in the absence of pooling authority.
Represented Magnolia Oil & Gas Corporation in an acquisition of producing properties and undeveloped acreage in the Eagle Ford Shale from various sellers, including a portfolio company of IOG Capital, LP.
Counseled Diamondback Energy, Inc. in the acquisition of Energen Corporation for $9.2 billion in stock.
Advised Diamondback Energy, Inc. in a $212.5 million acquisition in the Permian Basin from ExL Petroleum Management, LLC, et al.
Represented Diamondback Energy, Inc. in an acquisition of largely undeveloped acreage in the Permian Basin from Ajax Resources, LLC, for a combined $1.24 billion in cash and equity.
Counseled Diamondback Energy, Inc. in a $100 million acquisition in the Permian Basin from EnergyQuest II, LLC.
Advised Viper Energy Partners LLC in a $38 million acquisition of fee mineral interests in the Midland Basin from Fort Worth Mineral Company LLC.
Advised an ad hoc group of unsecured noteholders of Breitburn Energy Partners LP in the formation of a new exploration and production company and acquisition of the Delaware Basin assets in Breitburn’s $3.6 billion restructuring.
Represented Newfield Production Company in the sale of multiple wellbores in the Bakken Shale, North Dakota, to Arkoma Drilling, LP, for $2.5 million plus the assumption of all P&A liability.
Counseled Triple Crown Resources, LLC in a $400 million acquisition of producing properties and undeveloped acreage in the Permian Basin from Broad Oak Energy II, LLC.
Advised Diamondback O&G LLC in a $53.2 million sale of producing and non-producing Permian Basin assets to Double Eagle Energy.
Represented Viper Energy Partners LLC in a $123 million acquisition of overriding royalty interests in the Eagle Ford Shale from DGK ORRI Company, L.P., an affiliate of The Blackstone Group.
Advised a confidential large cap public E&P company in an exchange of assets in Texas and New Mexico valued at approximately $60 million with a confidential private equity portfolio company, using a complex transaction structure that successfully avoided public disclosure of the client’s entry into the area.
Represented GSO Capital Partners in an equity and debt investment to fund the $1.24 billion acquisition of assets in the Marcellus Shale from Anadarko Petroleum Corporation.
Counseled Gulfport Energy Corporation in a $1.85 billion acquisition of assets in the Oklahoma SCOOP play from Vitruvian II Woodford, LLC.
Advised Gulfport Energy Corporation in an $86.6 million acquisition of assets in the Utica Shale from XTO Energy Inc. and Phillips Exploration, LLC.
- Represented Gulfport Energy Corporation in a $50 million sale of assets in West Virginia to American Petroleum Partners Operating, LLC, an Apollo portfolio company.
Represented a leading public E&P company in a combination of mergers and asset purchases to acquire assets in the Delaware Basin and the Powder River Basin for $2.3 billion.
- Advised Newfield Exploration Company in connection with its $471 million acquisition of Stack play assets from Chesapeake Exploration Company.
Counseled Blackstone Group LP in connection with its investment in a $140 million drilling partnership in the Marcellus Shale.
- Represented Goodrich Petroleum Company in the sale of Eagle Ford shale assets to EP Energy E&P Company for $118 million.