ConocoPhillips’s US$9.5 Billion Acquisition Of Shell Enterprises’ Permian Business

Norton Rose Fulbright and Slaughter and May assisted Shell Enterprises LLC on the deal while Baker Botts represented ConocoPhillips.

Shell Enterprises LLC (Shell), a subsidiary of Royal Dutch Shell plc, agreed to sell its Permian business to ConocoPhillips for US$9.5 billion in cash. The transaction will transfer all of Shell’s interest in the Permian to ConocoPhillips, subject to regulatory approvals.

Shell’s US portfolio of operated companies and interests consists of oil, natural gas, petrochemicals, gasoline, lubricants and other refined products along with renewables, including wind, solar and mobility options like electric vehicle charging and hydrogen. In the US, Shell is also investing in an integrated power business that will provide electricity to millions of homes and businesses.

Norton Rose Fulbright’s core deal team was led by John Mauel (Picture – Houston) and Jessica Rodriguez (Houston), substantially assisted by Constanza Recchini (Houston), and also included Steven Suzzan (New York) and Alexander Bohn (Houston). Bob Bruner (Houston) provided advice regarding reorganization matters, Amanda Wait (Washington, DC) and Andy Eklund (Washington DC) provided guidance regarding antitrust clearance, and Eddie Lewis (Houston) advised on environmental matters.

The Baker Botts team included:  Craig Vogelsang (Partner, Houston), Luke Burns (Special Counsel, Houston), Megan Young (Associate, Houston); Carina Antweil (Partner, Houston), Jim Prince (Partner, Dallas), Larry Hall (Partner, Dallas), Michael Portillo (Senior Associate, Austin); Jon Lobb (Partner, Houston), Matthew Larsen (Partner, Dallas), Derek Green (Partner, Houston), Jordan Hahn (Senior Associate, Dallas); Aileen Hooks (Partner, Austin); Jason Loden (Partner, Dallas), Jennifer Trulock (Partner, Dallas); Paul Cuomo (Partner, Washington, D.C.), Michael Bodosky (Special Counsel, Washington, D.C.).

Slaughter and May’s team included Rebecca Cousin (Picture), Partner and Oliver Gratton, Associate.

Involved fees earner: Carina Antweil – Baker Botts LLP; Michael Bodosky – Baker Botts LLP; Luke Burns – Baker Botts LLP; Paul Cuomo – Baker Botts LLP; Derek Green – Baker Botts LLP; Jordan Hahn – Baker Botts LLP; Larry Hall – Baker Botts LLP; Aileen Hooks – Baker Botts LLP; Matthew Larsen – Baker Botts LLP; Jon Lobb – Baker Botts LLP; Jason Loden – Baker Botts LLP; Michael Portillo – Baker Botts LLP; Jim Prince – Baker Botts LLP; Jennifer Trulock – Baker Botts LLP; Craig Vogelsang – Baker Botts LLP; Megan Young – Baker Botts LLP; Alexander Bohn – Norton Rose Fulbright; Bob Bruner – Norton Rose Fulbright; Andrew Eklund – Norton Rose Fulbright; Edward Lewis – Norton Rose Fulbright; John Mauel – Norton Rose Fulbright; Constanza Recchini – Norton Rose Fulbright; Jessica Rodriguez – Norton Rose Fulbright; Steven Suzzan – Norton Rose Fulbright; Amanda Wait – Norton Rose Fulbright; Rebecca Cousin – Slaughter and May; Oliver Gratton – Slaughter and May;

Law Firms: Baker Botts LLP; Norton Rose Fulbright; Slaughter and May;

Clients: ConocoPhillips; Shell Enterprises LLC;

Author: Giulia Di Palma