Akin Gump Advises Southcross Energy Partners Conflicts Committee in “Drop-Down” Acquisition of Eagle Ford Assets
(Houston) – Akin Gump advised the conflicts committee of Southcross Energy Partners, L.P. (Southcross) as it completed the acquisition of gathering, treating, compression and transportation assets from Southcross Holdings, LP (Holdings).
The acquired assets, located in the Eagle Ford Shale area in La Salle County, Texas, consist of Holdings’ Valley Wells sour gas gathering and treating system, compression assets that are part of the Valley Wells and Lancaster gathering and treating systems and two NGL pipelines currently under construction. Total consideration for the assets consists of 4.5 million new Southcross common units issued to Holdings and $15 million in cash, equating to total consideration of approximately $78 million.
Oil and gas partner John Goodgame and senior counsel Christopher Arntzen led the Akin Gump team advising the Southcross conflicts committee. They were joined by associate Chase Armbrust, also part of the oil and gas practice, and tax partner Alison Chen.
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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