Baker Botts advised BKV Corporation on the deal.
BKV Corporation (“BKV” or “the Company”) announced that its subsidiaries have signed definitive purchase and sale agreements to acquire natural gas upstream and associated midstream infrastructure in the Barnett Shale region of North Texas from XTO Energy, Inc., a subsidiary of ExxonMobil Corporation. The acquired assets include approximately 160,000 total gross acres and 2,100 wells with operatorship positions. The transaction is valued at approximately $750 million and is expected to close in the second quarter.
The Baker Botts team included: Julie Mayo (Partner, Houston, Picture), Erica Youngstrom (Senior Associate, Houston), Ryan Chastain (Associate, Houston), Andrew Crayden (Associate, Houston), Samantha Crispin (Partner, Dallas), Elaine Walsh (Partner, Washington, D.C.), Jeffrey Oliver (Partner, Washington, D.C.), Michael Bodosky (Special Counsel, Washington, D.C.) and Matt West (Partner, Washington, D.C.).
Involved fees earner: Ryan Chastain – Baker Botts LLP; Andrew Crayden – Baker Botts LLP; Samantha Hale Crispin – Baker Botts LLP; Julie Mayo – Baker Botts LLP; Jeffrey Oliver – Baker Botts LLP; Elaine Walsh – Baker Botts LLP; Erica Youngstrom – Baker Botts LLP;
Law Firms: Baker Botts LLP;
Clients: BKV Corporation;