“Energy Deals on the Upswing, with Three Transactions Worth $7.3B Announced involving Eight Texas Law Firms”
The third deal is Ajax Resources’ sale of its northern Midland Basin assets to Diamondback Energy for $1.2 billion.
The price included $900 million in cash and 2.58 million shares of Diamondback stock, subject to certain closing adjustments.
Thompson & Knight advised Kelso-backed Ajax with a team led by partner Robert P. Dougherty III. Others included partners Wesley P. Williams, Debra J. Villarreal, J. Dean Hinderliter, Jason Patrick Loden, Anthony J. Campiti and William J. Schuerger and associates Courtney J. Roane, Catharine A. Hansard, Aaron C. Powell, and Minator Azemi.
Jefferies was Ajax’s financial advisor.