Akin Gump Advises Laredo Petroleum, Inc. in $405 Million Divestiture in Connection with Sabalo Energy Acquisition
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(Houston) – Laredo Petroleum, Inc. announced the sale of 37.5 percent of its operated proved developed producing reserves in its legacy leasehold in Reagan and Glasscock counties, Texas, to an affiliate of Sixth Street Partners, LLC for proceeds of $405 million and additional potential cash-flow based earn-out payments over the next six years. A team from Akin Gump advised Laredo in the transaction, the proceeds of which will be used to fund the company’s $715 million acquisition of acreage from affiliates of Sabalo Energy, LLC.
To learn more about the two transactions, which are expected to close July 1, please click here.
The Akin Gump team was led by corporate partners David Sweeney, Stephen Boone and Chris Centrich.
They were joined by corporate practice co-head John Goodgame and fellow partners William Morris and Eric Muñoz; tax partners Alison Chen and Jocelyn Tau; and corporate counsel Kevin Schott and Paul Monsour, associate Katherine Raymond and senior practice attorney Shane Sullivan.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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