Double Eagle Energy Holdings III’s $650 Million Unsecured Notes Offering

Latham & Watkins LLP represented the initial purchasers in the transaction. Vinson & Elkins LLP advised Double Eagle III Midco 1 LLC and its wholly owned subsidiary Double Eagle Finance Corporation on the deal.

Double Eagle Energy Holdings III LLC completed a US$650 million offering of five-year senior unsecured notes—the first inaugural issuance by an upstream energy company since July 2018.

Joint active bookrunners are Citigroup (lead) and J.P. Morgan. Joint bookrunners are Goldman Sachs, BBVA, BMO Capital Markets, CIBC, Mizuho, PNC Capital Markets, KeyBanc Capital Markets, RBC Capital Markets, MUFG and U.S. Bancorp. CIT Capital Securities is co-manager.

Double Eagle Energy is a privately held, independent oil and natural gas company engaged in the acquisition, exploration and development of oil and liquids-rich natural gas assets in the core of the Midland Basin.

Latham & Watkins LLP represented the initial purchasers in the transaction with a Houston-based team led by Michael Chambers (Picture) and David Miller, with associates Om Pandya, Erin Lee, Katie Walker, Evann Hall and Dylan Carroll. Advice was also provide on tax matters by Houston partners Tim Fenn and Jim Cole, with associate Marianne Standley; and on environmental matters by Chicago counsel Sara Orr.

The V&E team was led by Doug McWilliams, David Wicklund and Jim Fox, with assistance from Jackson O’Maley, Billy Vranish, Danny Wicoff, Marcus Martinez, Maya Bobbitt and Ashkan Fakhimi. Other key team members included Matthew Dobbins, Jennifer Cornejo, Wendy Salinas and Liz Snyder.

Involved fees earner: Dylan Carroll – Latham & Watkins; Michael Chambers – Latham & Watkins; Jim Cole – Latham & Watkins; Timothy Fenn – Latham & Watkins; Evann Hall – Latham & Watkins; Erin Lee – Latham & Watkins; David Miller – Latham & Watkins; Sara Orr – Latham & Watkins; Om Pandya – Latham & Watkins; Marianne Standley – Latham & Watkins; Katie Walker – Latham & Watkins; Maya Bobbitt – Vinson & Elkins LLP; Jennifer Cornejo – Vinson & Elkins LLP; Matthew Dobbins – Vinson & Elkins LLP; Ashkan Fakhimi – Vinson & Elkins LLP; James Fox – Vinson & Elkins LLP; Marcus Lind-Martinez – Vinson & Elkins LLP; Douglas McWilliams – Vinson & Elkins LLP; Jackson O’Maley – Vinson & Elkins LLP; Liz Snyder – Vinson & Elkins LLP; Wendy Trahan Salinas – Vinson & Elkins LLP; Billy Vranish – Vinson & Elkins LLP; David Wicklund – Vinson & Elkins LLP; Daniel Wicoff – Vinson & Elkins LLP;

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

Clients: BBVA USA; BMO Capital Markets; Canadian Imperial Bank of Commerce; CIT Capital Securities; Citigroup Global Markets Ltd; Double Eagle III Midco 1 LLC; Goldman Sachs & Co.; J.P. Morgan Securities LLC; KeyBanc Capital Markets; Mizuho; MUFG; PNC Capital Markets LLC; RBC Capital Markets; U.S. Bancorp Investments;

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Author: Ambrogio Visconti