Akin Gump advised Sanchez Energy Corporation (SN) in the execution and closing of an agreement with Sanchez Production Partners LP (SPP) to sell escalating amounts of partial working interests in certain wellbores and associated assets to a subsidiary of SPP for aggregate consideration of approximately $85 million to the Company, subject to normal and customary closing and post-closing adjustments. In connection with the transaction, SN novated certain gas and oil hedging transactions related to the production of the wellbores to SPP.
The Akin Gump team was led by oil and gas partner David Elder and included partners Shubi Arora, Eric Munoz and Bill Morris, counsel Jhett Nelson, associate Rahul Vashi and tax partner Thomas Weir.
Source: www.akingump.com
