AUSTIN, January 25, 2012 -- In the current issue of Texas Lawyer, Baker Botts Partner Mike Bengtson earned recognition as that publication’s ‘Dealmaker of the Week.’
Texas Lawyer said that Bengtson -- who is based in the firm’s Austin office -- had a big year in the shale sector in 2011. A deal the corporate and mergers and acquisitions lawyer negotiated for Hunt Oil Co. with Marubeni Corp. that closed on December 28, 2011, was no exception, the editors noted.
On January 6, Marubeni, a Japanese company, announced that Marubeni Eagle Ford Limited Partnership, a U.S. subsidiary, entered into an agreement with Dallas-based Hunt Oil to acquire 35 percent of Hunt’s working interest in an Eagle Ford shale oil and gas play covering about 52,000 acres of oil and gas leases in Texas.
The agreement calls for several hundred wells to be drilled over the next five to 10 years, with a total development cost of $1.3 billion, including Marubeni’s acquisition costs, the company wrote in a statement.
Also as part of the deal, Hunt Oil and Marubeni agreed to jointly make more acquisitions in the Eagle Ford shale oil and gas area.
The Texas Lawyer ‘Dealmaker of the Week’ article featuring Bengtson is available here.
Background on Mike Bengtson is available here.
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