Akin Gump Advises Kerr-McGee in $1.34 Billion Sale of Gulf of Mexico Shelf Properties

(Houston, Texas) – Oklahoma City-based oil and natural gas exploration and production company Kerr-McGee Corp. (NYSE: KMG) announced on Monday that it has signed an agreement with W&T Offshore, Inc. to sell all of Kerr-McGee’s interest in oil and natural gas properties on the Gulf of Mexico shelf for approximately $1.34 billion in cash. The transaction is expected to close in the first half of 2006.

Senior Vice President, General Counsel and Corporate Secretary Gregory F. Pilcher; Vice President – Oil & Gas Legal Bill Layton; and Senior Counsel T.L. Cubbage of Kerr McGee were assisted on the deal by Akin Gump Strauss Hauer & Feld. Robert H. Thomas of Porter & Hedges, L.L.P. represented W&T.

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP, a leading international law firm, numbers more than 900 lawyers with offices in Austin, Brussels, Dallas, Dubai, Houston, London, Los Angeles, Moscow, New York, Philadelphia, San Antonio, San Francisco, Silicon Valley, Taipei and Washington. The firm has a diversified practice and represents regional, national and international clients in a wide range of areas, including antitrust; appellate; banking and finance; capital markets; communications and information technology; corporate and securities; corporate governance; employee benefits; energy; entertainment and media; environmental; estate planning, wealth transfer and probate; financial restructuring; global security; government contracts; health; insurance; intellectual property; international trade; investment funds; labor and employment; land use; litigation; mergers and acquisitions; private equity; privatization; project development and finance; public law and policy; real estate development and finance; Russia/CIS; tax; and technology. 

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