Colgate Energy Partners III’s Acquisition of Luxe Energy

Vinson & Elkins LLP advised Luxe Energy LLC on the deal, while Latham & Watkins LLP represented Colgate Energy Partners III,.

Colgate Energy Partners III, LLC announced that it has entered into a definitive agreement under which Colgate will acquire a majority of the assets owned by Luxe Energy LLC (“Luxe”) in an all-stock transaction. Luxe will continue to own and manage certain assets including a portion of the non-operated leasehold interests that are operated by MDC Reeves Energy, LLC and its affiliates. Closing occurred simultaneously with signing of a definitive agreement on June 1, 2021.

The combination creates one of the largest private companies in the Permian Basin, with ~57,000 net acres, ~45,000 Boepd and 4 rigs running as of June 1, 2021.

The V&E corporate team was led by partner Matt Strock (Picture) and senior associate Robert Hughes, with assistance from associates Will White and Philip Turpin. Also advising were counsel Joclynn Townsend and associate Alyssa Allen; partner John Lynch and senior associate Christine Mainguy; and partner Hill Wellford.

Latham & Watkins LLP represented Colgate Energy Partners III with a team led by Houston partner James Garrett, with Houston associate Thomas Verity. Advice was also provided on oil and gas matters by Houston partner Stephen Szalkowski; on tax matters by Houston partner Jim Cole; on environmental matters by Los Angeles counsel Joshua Marnitz; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum; and on restructuring matters by New York partner David Hammerman.

Involved fees earner: Jim Cole – Latham & Watkins; James Garrett – Latham & Watkins; David Hammerman – Latham & Watkins; Adam Kestenbaum – Latham & Watkins; Joshua Marnitz – Latham & Watkins; Stephen Szalkowski – Latham & Watkins; Thomas Verity – Latham & Watkins; Alyssa Allen – Vinson & Elkins LLP; Robert Hughes – Vinson & Elkins LLP; John Lynch – Vinson & Elkins LLP; Christine Mainguy – Vinson & Elkins LLP; Matthew Strock – Vinson & Elkins LLP; Joclynn Townsend – Vinson & Elkins LLP; Philip Turpin – Vinson & Elkins LLP; Hill Wellford – Vinson & Elkins LLP; William White – Vinson & Elkins LLP;

Law Firms: Latham & Watkins; Vinson & Elkins LLP;

Clients: Colgate Energy Partners III; Luxe Energy LLC;

Martina Bellini

Author: Martina Bellini