Thomas G. Brandt

California Resources Corporation (NYSE: CRC) has announced the signing of a definitive merger agreement to combine with Aera Energy, LLC (Aera) in an all-stock transaction. The transaction values Aera at approximately US$2.1 billion, inclusive of Aera’s net debt and certain other obligations, and is expected to be immediately accretive. At closing, Aera's owners will receive 21.2 million shares of CRC’s common stock, equal to approximately 22.9% of CRC’s fully diluted shares. Aera is owned by entities managed by IKAV (51%), an international asset management group, and Canada Pension Plan Investment Board (CPP Investments) (49%). Post closing, IKAV-managed entities and CPP Investments will collectively hold 22.9% of CRC’s common stock. Latham & Watkins LLP represents Aera and its owners, IKAV, and CPP Investments, in the transaction with a corporate deal team led by New York partner David Allinson and Houston partner Thomas Brandt, with associate Ransel Potter.~~

Feb 7

1 min

Civitas Resources, Inc. (Civitas) (NYSE: CIVI) announced the pricing of an underwritten public offering of an aggregate 6,956,520 shares of its common stock (Common Stock) by an affiliate of Canada Pension Plan Investment Board (the Selling Stockholder) at a price to the public of US$73.80 per share. Civitas will not sell any shares of Common Stock in the offering and will not receive any proceeds therefrom. Latham & Watkins LLP represented the Selling Stockholder in the offering with a Texas-based team led by partner Thomas Brandt, with associates Michael Pascual, Celia Mishra, and Carol Bale. Advice was also provided on other corporate matters by Austin partner David Miller and on tax matters by Houston partner Jim Cole.~~

May 22

1 min

Hess Midstream Operations LP (the Issuer), a consolidated subsidiary of Hess Midstream LP (NYSE: HESM) (HESM and, together with the Issuer, Hess Midstream), announced that it has priced US$600 million aggregate principal amount of 6.500% senior unsecured notes due 2029 (the Notes) at par in a private offering. The aggregate principal amount of the offering was increased from the previously announced offering size of US$500 million. Hess Midstream intends to use the net proceeds from the offering to reduce indebtedness outstanding under its revolving credit facility and any remaining net proceeds for general corporate purposes. The offering of the Notes is expected to close on May 16, 2024, subject to the satisfaction of customary closing conditions. Latham & Watkins LLP represents Hess Midstream in the transaction with a corporate team led by Texas partners David Miller, Samuel Rettew, and Thomas Brandt, with associates Celia Mishra, Cooper Shear, and Jeff Serfass. Advice was also provided on tax matters by Houston partners Tim Fenn and Bryant Lee, with associate Dylan White; and on environmental matters by Houston partner Joshua Marnitz and associate Jacqueline Zhang.~~

May 9

1 min

Green Plains Inc. (NASDAQ: GPRE) (Green Plains) and Green Plains Partners LP (NASDAQ: GPP) (the Partnership) have announced that they have entered into a definitive merger agreement pursuant to which Green Plains will acquire all of the publicly held common units of the Partnership not already owned by Green Plains and its affiliates in exchange for a combination of Green Plains common stock and cash. Latham & Watkins LLP represents Green Plains in the transaction with a corporate deal team led by Houston partners Ryan Maierson and Thomas Brandt, with associates Monika Kluziak, Brent Wagner, Corynn Wilson, and Justin Reinking. Advice was also provided on tax matters by Houston partners Tim Fenn and Bryant Lee, with associate Dylan White; on employment, compensation and benefits by Washington, D.C. partner Adam Kestenbaum, with associate Dane Rebkowec; on environmental matters by Orange County partner Christopher Norton; and on antitrust matters by Washington, D.C. partner Jason Cruise and Washington, D.C. counsel Joseph Simei.~~

Sep 18

1 min

Hess Midstream LP (NYSE: HESM) (HESM) has announced the pricing of an underwritten public offering of an aggregate 10,000,000 Class A shares representing limited partner interests in HESM by an affiliate of Global Infrastructure Partners (the Selling Shareholder), at a public offering price of US$33.10 per Class A share. The Selling Shareholder has granted the underwriter a 30-day option to purchase up to 1,500,000 additional Class A shares at the public offering price less underwriting discounts and commissions. Latham & Watkins represents Hess Midstream and the Selling Shareholder in the transaction with a corporate team led by Texas partners David Miller, Samuel Rettew, and Thomas Brandt, with associates Celia Mishra, Cooper Shear, and Jeff Serfass. Advice was also provided on tax matters by Houston partners Tim Fenn and Bryant Lee, with associate Dylan White; and on environmental matters by Houston/Los Angeles partner Joshua Marnitz and associate Jacqueline Zhang.~~

Feb 6

1 min