Foley Gardere Represents BP in
$10.5 Billion Acquisition of BHP Shale Assets
Foley Gardere today announced that it is serving as counsel to BP America Production Company in its acquisition of most of BHP’s onshore U.S. oil and natural gas assets, including oil and gas production resources in the Permian and Eagle Ford basins in Texas and in the Haynesville gas basin in Texas and Louisiana. Under the terms of the agreement, BP America Production Company will acquire from BHP Billiton Petroleum (North America) Inc. 100% of the issued share capital of Petrohawk Energy Corporation – the wholly-owned subsidiary of BHP which holds the assets – for a total consideration of $10.5 billion, subject to customary adjustments.
Foley Gardere partners Tim Spear and Eunice Song served as the lead attorneys for the firm on the transaction. They were supported by a team of lawyers across Foley’s 24 offices.