Chris LaFollette Quoted in InsideCounsel on Rose Rock Midstream Deal
Chris LaFollette, partner in charge of Akin Gump’s Houston office and a member of the firm’s oil & gas and natural resources practice, was quoted in InsideCounsel’s Women, Influence & Power in Law Network about a deal she led on behalf of the conflicts committee of the board of directors of Rose Rock Midstream, L.P.’s general partner.
The deal in question involved the partnership’s recent $325 million purchase of the remaining crude oil assets of SemGroup Corporation, which included the Wattenberg Oil Trunkline System and SemGroup’s 50 percent interest in the Glass Mountain Pipeline.
Speaking of the transaction, LaFollette commented: “In light of the volatility of commodity prices that accelerated after OPEC decided last November not to cut supplies, as well as changes in the capital markets, the business world is very attuned to opportunities to combine and add value, assuming the right synergies. The Rose Rock Midstream deal is a perfect example of that.”
This is the second major transaction in the past 12 months in which Akin Gump has advised Rose Rock’s conflicts committee. Click here for information on the previous deal.