Law360 Profiles Michael Byrd’s Work on Two Overlapping Oil and Gas Deals
In the latest installment of its “Sealing The Deal” series, Law360 featured Akin Gump oil and gas partner Michael Byrd for his work on overlapping deals for Diamondback Energy, Inc. and Newfield Exploration Co.
The article noted that Byrd led the Akin Gump team in the two back-to-back, half-billion-dollar deals within a 19-day period in July while still working 27 hours on matters for other clients. Though the deals closed quickly, they were not presented without their challenges. Byrd said of working on the Newfield deal, in which the company sold its Granite Wash assets, “It was essentially like two deals and then a deal, because we actually negotiated with three different buyers. One of the buyers, we fully negotiated with, and then the deal fell apart. Then another buyer came in, and we had to fully negotiate with them.”
Byrd noted that working on the two deals truly showcased the firm’s synergy he and the firm were seeking when he joined Akin Gump earlier this year, and he credited everyone involved on both sides of the table for closing these deals at such an accelerated rate. He added, “It required a lot of dedication from lawyers and business people on all sides. There were a number of people on both sides who wanted to get the deals done, and we were willing to do what it took to get them done.”