“Corp. Deal Tracker Weekly Round-Up: 9 firms and 47 Texas lawyers close 2017 with 10 transactions worth $2.5B”
With eyes on both the end of the year and the dawn of massive tax cuts, more than a few Texas attorneys labored on transactions through the waning days of 2017: At least 47 lawyers from 10 different law firms advised on 10 transactions worth $2.5 billion.
T&K advises Chaparral Energy on $60M purchase
Thompson & Knight confirmed Dec. 27 it represented Chaparral Energy on its purchase of acreage in Kingfisher County, Oklahoma, from an unnamed private seller for $60 million in cash.
Partner Robert P. Dougherty III in Dallas led the deal team, which included partners Roger Aksamit in Houston and Jessica Hammons in Dallas and associates Kelli Sims in Houston and Aaron Powell in Dallas. Chaparral’s general counsel is David J. Ketelsleger, who previously was a partner at McAfee & Taft.
Oklahoma City-based Chaparral announced the purchase Dec. 27, with CEO Earl Reynolds saying it was adjacent to its existing operations in the sweet spot of this highly productive play.
The company also closed on a new $400 million credit facility on Dec. 21 with an initial borrowing base of $285 million, up $60 million from its previous one. Chaparral plans to use the facility to finance the acquisition, which is expected to close in January.