Vitol and ATX Energy Partners’ Formation of VTX Energy Partner

Latham & Watkins represented Vitol in the transaction.

Vitol and the management of ATX Energy Partners, LLC have announced the formation of VTX Energy Partners, LLC. VTX will seek to acquire, develop, and operate large-scale upstream assets in established US lower 48 basins.

VTX Energy Partners will be the successor company to ATX Energy Partners, an Austin-based oil and gas company pursuing an acquisition and development strategy in the U.S. Lower 48.  The management team has a proven track record of prudent asset management and value creation dating back to Brigham Exploration, which sold to Statoil for $4.7 billion in October 2011, and Brigham Resources, which sold to Diamondback Energy for $2.4 billion in December 2016.

Latham & Watkins represented Vitol in the transaction with a deal team led by Houston partner James Garrett (Picture), with associates John Daywalt, Joseph Kmetz, and Zek Zhang. Advice was also provided on tax matters by Houston partner Jim Cole, with associate Emily Fawcett; and on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum.

Involved fees earner: Jim Cole – Latham & Watkins; John Daywalt – Latham & Watkins; Emily Fawcett – Latham & Watkins; James Garrett – Latham & Watkins; Adam Kestenbaum – Latham & Watkins; Joseph Kmetz – Latham & Watkins; Zek Zhang – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Vitol Group;