Bracewell’s McGinley advises on $1.4B Apache deal

McGinley was part of the team that represented Apache Corp.’s Gulf of Mexico subsidiary with the sale of non-operated interests in two Gulf of Mexico developments

Elizabeth L. McGinley

Bracewell & Giuliani partner and tax practice head Elizabeth L. McGinley was part of the team that represented Apache Corp.’s Gulf of Mexico subsidiary with the sale of non-operated interests in two Gulf of Mexico developments for $1.4 billion. A subsidiary of Freeport-McMoRan Copper & Gold Inc. bought the Lucius and Heidelberg developments in a deal expected to close by June 30. Apache will also sell 11 other deepwater exploration blocks that are in their primary term, the early period of well drilling. 

Along with McGinley, Bracewell partners G. Alan Rafte, D. Kirk Morgan II, Michael De Voe Piazza and Tim Wilkins led the team representing Apache.

The company has turned to McGinley and the team at Bracewell for a number of M&A transactions recently, as Apache has shed assets in order to hone its focus, according to McGinley. For example, last year McGinley also helped to advise the company with the sale of its Gulf of Mexico Shelf operations and properties to Fieldwood Energy LLC for $3.75 billion.

That long-standing partnership helped speed the latest deal, McGinley told WIPL. “This one unfolded very quickly, and we worked very hard to complete it in a timely manner,” she said. “Because the groups at Bracewell and Apache had worked together before, it was easy to work together again, matching our complementary practices. It was a real team approach.”

McGinley said there has been a lot of activity in oil and gas lately. “We see other companies reducing non-core assets,” she said.

New York-based McGinley represents a variety of clients in the oil and gas and electric power industries, including private equity firms investing in oil and gas exploration, production and infrastructure. Her practice also includes complex debt and equity financing, joint ventures and project finance, as well as experience with volumetric production payment (VPP) transactions, as well as partnership and corporate transactions.

Contributing Author

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Amy I. Stickel

Amy I. Stickel has extensive experience covering the legal, financial and pharmaceutical industries as a writer and editor. A past managing editor of Corporate Legal Times and...

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