Akin Gump Advises Sanchez in $2.3 Billion Eagle Ford Acquisition
(Houston) – Sanchez Energy Corporation has announced that it and funds managed by Blackstone Energy Partners have entered a strategic 50/50 partnership and together they have signed a definitive purchase agreement to acquire Anadarko Petroleum Corporation’s working interest in approximately 318,000 gross operated acres in the Western Eagle Ford for approximately $2.3 billion, subject to normal and customary closing conditions and purchase price adjustments. Akin Gump advised Sanchez Energy in the matter.
Sanchez Energy and Blackstone will use cash on hand and commitments received from financial partners and commercial banks to provide financing for the acquisition. The transaction is expected to close in the first quarter of 2017.
Akin Gump oil and gas partner David Elder led the team advising Sanchez Energy. Also on the team were partners Patrick Hurley, Michael Byrd, Bill Morris and Eric Muñoz; senior counsel Rebecca Tyler; counsel Stephen Boone and Gonzalo Castro; and associates Eduardo Canales, Jacob Johnson, Niki Roberts and Kathlyn Mickan.
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.
# # #