Colgate Energy Partners III’s $508 Million Acquisition of Assets from Occidental

Kirkland & Ellis advised Colgate Energy Partners, III on the deal, while White & Case advised Occidental Petroleum.

Colgate Energy Partners, III closed its definitive agreement to acquire certain upstream oil and gas assets in Reeves and Ward Counties, Texas from subsidiaries of Occidental for approximately $508 million.

Colgate is a privately held, independent oil and natural gas company headquartered in Midland, Texas that is engaged in the acquisition, exploration and development of oil and natural gas assets in the Delaware Basin, with operations principally focused in Reeves County, Ward County, and Eddy County.

The Kirkland team was led by corporate partners Chad Smith (Picture) and Anthony Speier and associates William Eiland, Isaac Bate and Caleb Martin; with assistance from tax partner Mark Dundon and associate Ryan Phelps; and environmental transactions partner Jonathan Kidwell and associate Madison McMurray.

The White & Case team advising Occidental was led by partners Mingda Zhao and Emery Choi (M&A) and included partner Taylor Pullins (Environmental); partner Chad McCormick and associate Michael Rodgers (Tax); associate Danny Hatch (Project Development and Finance); and associates Ted Seeger and Yuxi Wang (M&A) all in Houston.

Involved fees earner: Isaac Bate – Kirkland & Ellis; Mark Dundon – Kirkland & Ellis; William Eiland – Kirkland & Ellis; Jonathan Kidwell – Kirkland & Ellis; Caleb Martin – Kirkland & Ellis; Madison McMurray – Kirkland & Ellis; Ryan Phelps – Kirkland & Ellis; Chad Smith – Kirkland & Ellis; Anthony Speier – Kirkland & Ellis; Emery Choi – White & Case; Danny Hatch – White & Case; Chad McCormick – White & Case; Taylor Pullins – White & Case; Michael Rodgers – White & Case; Ted Seeger – White & Case; Yuxi Wang – White & Case; Mingda Zhao – White & Case;

Law Firms: Kirkland & Ellis; White & Case;

Clients: Colgate Energy Partners III; Occidental Petroleum Corporation ;

Author: Martina Bellini