Upstream Oil & Gas

Akin is an elite global energy law firm with deep roots in the oil & gas industry. We are extremely well positioned to partner with our clients in creating value and sustainable business models in volatile markets and uncertain political climates.

For our upstream clients, we handle representations ranging from mergers & acquisitions (M&A), capital markets and finance transactions to specialized oil & gas agreements, including purchase and sale, joint operating, unit operating, participation, and farm-in and farm-out agreements.

Our team works together across cultural and geographic boundaries drawing mission-critical resources from across the globe. Notably, our lawyers speak more than 80 languages.

We offer a suite of capabilities critical to upstream oil & gas companies:

• Our deep, ground-up knowledge of the energy industry allows us to tailor assistance to the needs of any engagement—from traditional M&A and acquisitions & divestitures (A&D) work to providing support and training to allow clients to right-size internal and external legal spend.
• We assist clients in meeting their carbon goals and diversifying their asset portfolios.
• Decades of experience advising funds and their energy portfolio companies gives us the capacity to structure and execute the industry’s full spectrum of deals.
• Our stellar restructuring practice supports energy interests in managing liability and seizing favorable circumstances.
• Our powerhouse lobbying & public policy practice helps clients diffuse political risk to close transactions around the world.

We combine the resources of a global law firm with an intimate understanding of the industry and our clients’ specific needs.

Representative Matters

• Represented Tug Hill and its affiliates in the $5.2-billion sale of upstream & midstream assets from Tug Hill and XcL Midstream to EQT Corporation.
• Counseled LetterOne on its agreement to transfer the majority of Wintershall Dea’s non-Russia related upstream business to London-listed Harbour Energy plc, the U.K.’s largest oil & gas producer, for a total consideration of $11.2 billion.
• Advised Talos Energy in its $1.29-billion acquisition of QuarterNorth Energy Inc., a privately held U.S. Gulf of Mexico exploration and production company.
• Counseled Hokchi Energy in its more than $500-million sale of certain assets to Mexican subsidiaries of Wintershall Dea and in its more than $200-million purchase of certain assets from E&P Hidrocarbuors.
• Represented Viper Energy Partners in its $1-billion acquisition, from Warwick Capital Partners and GRP Energy Capital, of mineral and royalty interests in the Permian Basin.
• Advised Vital Energy in connection with an amendment to its senior secured credit facility and in the $405-million sale of its operated proved developed producing reserves in its legacy leasehold in Reagan and Glasscock counties, Texas to an affiliate of Sixth Street Partners.
• Counseled FireBird Energy in connection with its $1.6-billion sale of assets to certain affiliates of Diamondback Energy.
• Represented Apache Corporation in its $505-million acquisition of properties in the Texas Delaware Basin.
• Advised Diamondback Energy Inc. in its $2.2-billion acquisition of QEP Resources and in its acquisition of all leasehold interests and related assets of Guidon Operating LLC in exchange for 10.63 million shares of Diamondback common stock and $375 million of cash.
• Counseled Viper Energy Partners in its Rule 144A offering of $400 million of its 7.375 percent senior notes due 2031.