Sidley represented Ensign Natural Resources LLC, a private equity portfolio company, in the sale of its Eagle Ford Shale oil and gas interests to Marathon Oil Company (NYSE: MRO) for US$3 billion. The acquisition includes approximately 130,000 owned-and-operated gross acres and 700+ wells in South Texas. The transaction is subject to customary terms and conditions, including closing adjustments, and is expected to close by year-end 2022.
The Sidley M&A team was led by Tim Chandler and Jim Rice, with support from John Brannan III, Jeff Kinney, and Sabina Wahl (Energy and Infrastructure). The team also included Marc Rose, Caroline E. Abbott, Jeremy B. Pettit, Konnor C. Rodriguez, J.D. Swancoat, and Sean M. Valentine (Energy and Infrastructure); Daniel F. Allison and Michael J. Schlinkert (Energy and Infrastructure Finance); George J. Vlahakos (Energy and Infrastructure Capital Markets); Eric M. Winwood, Marian Fielding, and Akshay Soman (Employee Benefits and Executive Compensation); Margaret H. Allen and Teresa L. Reuter (Labor and Employment); Zackary Pullin and Aaron S. Mitchell (Tax); Heather M. Palmer (Environmental); Robert S. Velevis (Commercial Litigation and Disputes); Katie Klaben (Securities Enforcement and Regulatory); and Elizabeth Chen and Ali Sarwari (Antitrust/Competition).
The Sidley M&A team was led by Tim Chandler and Jim Rice, with support from John Brannan III, Jeff Kinney, and Sabina Wahl (Energy and Infrastructure). The team also included Marc Rose, Caroline E. Abbott, Jeremy B. Pettit, Konnor C. Rodriguez, J.D. Swancoat, and Sean M. Valentine (Energy and Infrastructure); Daniel F. Allison and Michael J. Schlinkert (Energy and Infrastructure Finance); George J. Vlahakos (Energy and Infrastructure Capital Markets); Eric M. Winwood, Marian Fielding, and Akshay Soman (Employee Benefits and Executive Compensation); Margaret H. Allen and Teresa L. Reuter (Labor and Employment); Zackary Pullin and Aaron S. Mitchell (Tax); Heather M. Palmer (Environmental); Robert S. Velevis (Commercial Litigation and Disputes); Katie Klaben (Securities Enforcement and Regulatory); and Elizabeth Chen and Ali Sarwari (Antitrust/Competition).