Akin Gump Advises Diamondback Energy and Rattler Midstream in Parallel Transactions
Contact:
(Houston) – A team from Akin Gump advised Diamondback Energy, Inc., an independent oil and natural gas company, in the $54 million sale of Mustang Springs Gas Gathering assets to Brazos Midland, LLC. The deal, which closed on November 1, 2021, is subject to customary post-closing adjustments.
In a parallel transaction, the team also advised Diamondback subsidiary Rattler Midstream LP, which owns, operates, develops, and acquires midstream infrastructure assets, in the $93 million sale of its Pecos County gas gathering assets to Brazos Delaware Gas, LLC. The sale comprised approximately $83 million of cash at closing and an additional $10 million of contingent future consideration based on volume thresholds on the gas gathering assets.
Akin Gump corporate partners Stephen Boone and John Goodgame, global corporate practice co-head, led the cross-practice deal team. They were joined by corporate partner Gabe Procaccini and associates Leana Garipova and Katherine Raymond, along with tax partner Alison Chen and associate Sangita Sahasranaman. Corporate partner Alan Laves and associates Morgan Francy and Laura Lindsay Tatum handled the debt finance aspects.
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.
# # #
