Gump Advises Sanchez Energy on Selling Their Eagle Ford Shale Assets
In a significant move, Sanchez Energy Corporation (SN) has closed a deal worth approximately $85 million with Sanchez Production Partners LP (SPP) to sell certain wellbores and associated assets. The transaction was advised by the oil and gas team at Gump Strauss Hauer & Feld LLP, led by partner David Elder.
The deal involves the sale of escalating amounts of partial working interests in certain wellbores, but the exact number of wellbores and the specific subsidiary of SPP that will be acquiring the assets remain undisclosed.
In connection with the transaction, Sanchez Energy Corporation novated certain gas and oil hedging transactions to SPP. The Gump team, which includes partners Shubi Arora, Eric Munoz, and Bill Morris, counsel Jhett Nelson, associate Rahul Vashi, and tax partner Thomas Weir, advised Sanchez Energy Corporation on the execution of the agreement.
Gump Strauss Hauer & Feld LLP, founded in 1945, is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia, and the Middle East. The firm has been instrumental in numerous high-profile transactions in the oil and gas sector.
The transaction is subject to normal and customary closing and post-closing adjustments, ensuring a smooth and efficient transfer of assets. This sale marks another significant step for Sanchez Energy Corporation as it continues to strategize its operations in the oil and gas industry.
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