Akin Gump Advises DEA in Acquisition of Sierra Oil & Gas in Mexico
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(Houston and London) – DEA Deutsche Erdoel AG has signed an agreement to acquire Sierra Oil & Gas, a leading independent Mexican oil and gas company. Sierra holds interests in a portfolio of six exploration and appraisal blocks in Mexico, including in the world class Zama discovery. A cross-border team from Akin Gump’s Houston and London offices advised DEA in the deal.
The transaction is an important milestone in DEA’s international growth strategy, fulfilling DEA’s objective of building a significant portfolio in the Mexican upstream market. DEA will add Sierra’s acreage to its existing portfolio of operated production and exploration blocks, to become one of the country’s largest acreage holders. Once completed, it will be the largest upstream M&A transaction in the country since the liberalization of the petroleum sector in 2013.
Akin Gump oil and gas partner David Sweeney and associate Eduardo Canales, both in Houston, led the Akin Gump team. They were joined by global project finance partner Julian Nichol, cross-border transactions partner Sebastian Rice and international arbitration practice head Justin Williams, all in London.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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