HOUSTON – Bracewell LLP advised Titus Oil & Gas Production, LLC, Titus Oil & Gas Production II, LLC and their affiliates in their divestiture of New Mexico assets located in the northern Delaware Basin to Earthstone Energy, Inc. (NYSE:ESTE) for approximately $627 million. The aggregate purchase price consists of $575 million in cash and approximately 3.9 million shares of Earthstone’s Class A common stock valued at $52 million based on a closing share price of $13.51 on June 24, 2022. The deal is expected to close in the third quarter of 2022.
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Bracewell lawyers involved in this transaction included:
Partners: Molly E. Butkus, Charles H. Still Jr., Daniel E. Hemli, Timothy A. Wilkins and Don J. Lonzcak
Associates: John L. Stavinoha, Kate Barrington McGregor, Shannon Baldwin, Jay Harper and Michael A. Recchia