Porter Hedges Represents Management Group in the $1 Billion Private Equity Backed Formation of Maverick American Natural Gas

Porter Hedges represented a management and investor group in the formation of Maverick American Natural Gas (Maverick). Maverick is a new $1 billion private equity backed acquisition fund formed for the purpose of acquiring, operating, and developing conventional natural gas reserves in North America. The management and investment group was led by oil exploration and production entrepreneur Dan A. Hughes, Jr. who partnered with energy acquisition and development executive Thomas M. Hart and global private equity firm TPG Capital. Mr. Hughes will serve as Maverick’s Chairman and Mr. Hart will serve as its President.

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Porter Hedges Represents Noble Energy in the Completion of the $3.2 billion Joint Venture with CONSOL Energy in the Marcellus Shale

Noble Energy, Inc. (Noble Energy) announced today that it closed the previously announced agreement to create a joint venture partnership with CONSOL Energy, Inc. (CONSOL Energy) for the development of CONSOL Energy’s Marcellus Shale properties in southwest Pennsylvania and northwest West Virginia.  The deal was previously announced on August 18, 2011.  Porter Hedges represented Noble Energy in this transaction.  For an aggregate value of approximately $3.2 billion, Noble Energy will acquire 50% of CONSOL Energy’s Marcellus Shale interest including a 50% interest in the existing Marcellus Shale wells.  This joint venture establishes a new position for Noble Energy in the Marcellus shale.

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Tags:  Porter Hedges LLP | Houston