Akin Gump Advises Sanchez Energy in Asset Sale to Carrizo Oil & Gas
Sanchez Energy Corporation has executed a definitive agreement with Carrizo Oil & Gas, Inc. to sell certain non-core assets in the Eagle Ford Shale for cash consideration of $181 million upon closing, subject to normal and customary closing adjustments.
The deal includes approximately 15,000 net acres primarily located in La Salle and McMullen Counties, Texas, as well as net proved reserves of approximately 6.9 MMBoe (90 percent developed). It also includes net production of approximately 3,000 Boe/d (61 percent oil) from 112 gross (93 net) wells.
The Akin Gump team was led by energy partner David Elder (Picture). It included energy partner Shubi Arora, tax partner Thomas Weir, energy counsel Jhett Nelson, and energy associates Mary Lovely and Chase Armbrust.
Law Firms: Akin Gump;
Clients: Sanchez Energy Corporation;