Anthony Speier, P.C.
Overview
Anthony Speier is a corporate partner in the Houston and Austin offices of Kirkland & Ellis LLP. His practice focuses on acquisitions, divestitures and formation of joint ventures involving assets across the energy value chain. Anthony has represented clients in connection with the purchase and sale of a broad range of energy assets, including metals critical to commercial battery production and the EV market, upstream and midstream oil and gas assets and companies, refineries, LNG facilities, processing and fractionation facilities and specialty chemicals businesses.
Anthony is consistently ranked by Chambers USA where clients have mentioned "He has the subject matter expertise on asset-level transactions. He is also commercial and does well with business folks.”
Experience
Representative Matters
While at Kirkland, Anthony's representative transactions have included:
- Magnolia Oil & Gas (NYSE: MGY) in its $300 million acquisition of 48,000 net acres in Giddings
- Diamondback Energy, Inc. (NASDAQ: FANG) — in its acquisition of all leasehold interest and related assets of Lario Permian, LLC and certain associated sellers in exchange for 4.18 million shares of Diamondback common stock and $850 million of cash
- General Motors Co. (NYSE: GM) — in its strategic investment in Queensland Pacific Metals Limited
- Diamondback Energy, Inc. (NASDAQ: FANG) — in its acquisition of all leasehold interest and related assets of FireBird Energy in exchange for 5.86 million shares of Diamondback common stock and $775 million of cash
- EQT Corporation (NYSE: EQT) — in its $5.2 billion acquisition from THQ Appalachia I, LLC and THQ-XcL Holdings I, LLC (affiliates of Quantum Energy Partners and Tug Hill Operating) of their direct and indirect upstream and midstream subsidiaries and associated oil and gas assets, properties and gathering systems in the Appalachian Basin
- RimRock Oil & Gas LP — in its $865 million sale of leasehold interest and related assets in the Williston Basin to Devon Energy Corp. (NYSE: DVN)
- Colgate Energy Partners III LLC — in its $3.9 billion merger of equals with Centennial Resource Development Inc. (NASDAQ: CDEV) to create the largest pure-play E&P in the Delaware Basin
- Sundance Energy, Inc. — in its sale of substantially all the assets of Sundance Energy and certain affiliated entities to SilverBow Resources, Inc. (NYSE: SBOW)
- Civitas Resources Inc. (NYSE: CIVI) — in its $346 million acquisition of Bison Oil & Gas II LLC
- GEP Haynesville, LLC — in its $1.85 billion sale to Southwestern Energy (NYSE: SWN)
- Diversified Energy Company PLC (LSE: DEC) — in its acquisition of certain upstream assets, field infrastructure, equipment and facilities within the company's Central Region from Tapstone Energy Holdings, LLC and its related party KL CHK SPV, LLC
- Colgate Energy — in its $508 million definitive agreement to acquire certain upstream oil and gas assets from subsidiaries of Occidental
- Extraction Oil & Gas, Inc. (NASDAQ: XOG) — in Civitas Resources, Inc.’s $4.5 billion acquisition of Crestone Peak Resources
- ACON S2 Acquisition Corp. (NASDAQ: STWO), a publicly traded special purpose acquisition company — on its business combination with ESS Tech, Inc., a manufacturer of long-duration iron flow batteries for commercial and utility-scale energy storage applications
- Extraction Oil & Gas, Inc. (Nasdaq: XOG) — in its approximately $2.6 billion all-stock merger of equals with Bonanza Creek Energy, Inc. (NYSE: BCEI)
- Alta Resources — in the $2.925 billion sale of its upstream and midstream subsidiaries for cash and public stock consideration to EQT Corp.
- Sustainable Opportunities Acquisition Corporation (NYSE: SOAC), an ESG-focused special purpose acquisition company (SPAC) — on a $2.9 billion transaction that will lead to DeepGreen Metals Inc. (which will operate as “The Metals Company”), a developer of lower-impact battery metals from unattached seafloor polymetallic nodules, becoming publicly listed
- Guidon Operating LLC — divestiture of all leasehold interests and related assets to Diamondback Energy, Inc. (NASDAQ: FANG) for 10.63 million shares of Diamondback common stock and $375 million
- Penn Virginia Corporation (NASDAQ:PVAC) — in Juniper Capital Advisors, L.P.’s $188 million strategic investment in the company, including $150 million of cash and certain oil and gas assets, in exchange for 59 percent of Penn Virginia’s equity
- EQT Corp. (NYSE: EQT) — $735 million acquisition of Chevron USA’s upstream and midstream assets in the Appalachian Basin
- Callon Petroleum Company — in capital structure initiatives used to reduce borrowings on Callon’s credit facility, including entering into a $140 million cash generating overriding royalty interest ("ORRI") transaction with a private investment vehicle managed by Kimmeridge Energy, and a $300 million issuance of secured second lien notes and warrants
- Blackbuck Resources, a portfolio company of Cresta Fund Management — in its acquisition of Cimarex Energy Co.’s Whites City produced water gathering and disposal infrastructure system in Eddy County, New Mexico and execution of a long-term produced water management agreement with Cimarex that includes a 15-year dedication encompassing more than 40,000 acres
- WPX Energy, Inc. (NYSE: WPX) — in its $12 billion all-stock merger of equals with Devon Energy Corporation (NYSE: DVN)
- WPX Energy, Inc. (NYSE: WPX) — in its up to $300 million joint venture with an undisclosed private equity sponsor to fund drilling and completion-related capital expenditures with respect to non-operated properties in the Permian Basin
- Publicly-traded E&P company — $500 million joint venture with an undisclosed private equity sponsor to acquire minerals in the Permian Basin
- Raisa Energy LLC — in a first of its kind transaction involving Raisa’s issuance of asset-backed securities secured by producing oil and gas wells
- Parsley Energy, Inc. (NYSE: PE) — $2.27 billion all-stock acquisition of Jagged Peak Energy Inc. (NYSE: JAG)
- Hilcorp Alaska — $5.6 billion acquisition of BP’s (NYSE:BP) upstream and midstream business in Alaska
- Callon Petroleum Company — $3.2 billion acquisition of Carrizo Oil & Gas, Inc. in an all-stock transaction
- Private operator — $165 million drilling participation arrangement with a Development Capital Resources-managed subsidiary, capitalized by funds managed by affiliates of Ares Management Corporation, to jointly develop drilling locations in the Permian Basin’s Wolfcamp formation
- Gastar Exploration LLC/Ares — strategic combination and merger with Chisholm Oil and Gas LLC
- Riviera Resources — sale of securitized notes backed by a VPP on helium production from the Hugoton Field
- Ensign Natural Resources LLC/Warburg Pincus — acquisition of Pioneer Natural Resources USA, Inc.’s Eagle Ford Shale assets, including approximately 59,000 net acres and 14,400 net boepd
- Newfield Exploration Co. — approximately $5.5 billion acquisition by Encana Corp. in an all-stock transaction
- Ascent Resources — equity investment by Riverstone and the simultaneous acquisition of Utica Shale assets from Salt Fork Resources, a Riverstone-backed company
- BCE-Mach LLC — acquisition of Repsol E&P USA Inc.’s producing properties in Alfalfa, Garfield, Grant, Kay, Major, Harper, Noble, Pawnee, Payne, Woods and Woodward Counties, Oklahoma and Barber, Comanche, Finney, Ford, Gove, Gray, Harper, Hodgeman, Ness, Reno, Scott, Sumner and Wichita Counties, Kansas
- KKR/Venado Oil & Gas, LLC — acquisition of operated assets in the Eagle Ford oil window of South Texas from Texas American Resources Company I, LLC
- FourPoint Energy — formation of a new pure-play Midland Basin joint venture with Double Eagle Energy Holdings III LLC named DoublePoint Energy, LLC, with over 70,000 acres in Midland, Glassock, Martin, Howard, Upton and Reagan Counties, Texas
- KKR/Venado Oil and Gas, LLC — acquisition of Texas American Resources I, LLC’s assets in the Eagle Ford Shale
- PE-backed oil and gas company — $553 million acquisition of Devon Energy Corporation’s (NYSE:DVN) oil and gas properties in the Barnett Shale
- Ares Management, L.P. — majority investment into Admiral Permian Resources, LLC, a Texas-based independent oil and gas company and the related acquisition of more than 59,000 net acres from Three Rivers Operating Co. III LLC (3ROC) in the Delaware Basin
- HG Energy II Appalachia, LLC — exchange transaction with CNX Resources Corp. and CNX Midstream Partners LP
- Alta Marcellus Development, LLC — $115 million acquisition of Ultra Petroleum Corp.’s (NASDAQ:UPL) non-operated asset in the Marcellus Shale
- KKR/Venado Oil & Gas, LLC — $765 million acquisition of Cabot Oil & Gas Corporation’s (NYSE: COG) developed and undeveloped oil and gas assets in the Eagle Ford Shale
- LINN Energy, Inc. — in the following divestures of oil and gas assets: (1) $585.1 million sale of its interest in properties located in the Jonah Field in Wyoming to Jonah Energy LLC; (2) $285 million sale of its interest in properties in the Williston Basin to a wholly-owned subsidiary of Valorem Energy, LLC; (3) $263 million sale of its interest in properties located in the San Joaquin Basin in California to Berry Petroleum Company, LLC; (4) $200 million sale of its interest in properties located in the Washakie Field in Wyoming to Washakie Exaro Opportunities, LLC; (5) $122 million sale of its interest in waterflood properties in Oklahoma and properties in the Texas Panhandle to an undisclosed buyer; (6) $119.5 million sale of its interest in conventional properties located in the Permian Basin, Texas, to an undisclosed buyer; (7) $100 million sale of its interest in properties located in the Brea-Olinda Field in California to Bridge Energy LLC; and (8) $71.5 million sale of its interest in properties located in the Salt Creek Field in Wyoming to Denbury Resources Inc.
- Warburg Pincus/RimRock Oil & Gas Williston, LLC — $500 million acquisition of non-operated upstream assets in the Bakken Shale from Whiting Petroleum Corporation (NYSE: WLL)
- GSO/Sequel Energy Group LLC — formation of $325 million drilling partnership to develop domestic unconventional resources in the Utica Shale with Eclipse Resources Corp. (NYSE: ECR)
- KKR — $625 million divestiture of certain Eagle Ford Shale assets owned by KKR and Anadarko Petroleum Corporation (NYSE: APC) to WildHorse Development Corporation (NYSE: WRD) paid in cash and WRD common stock
- Private equity fund — divestiture and unwind of an existing drilling partnership with a private oil and gas company to develop Eagle Ford Shale assets
- HG Energy II LLC/Quantum — $1.23 billion acquisition of Noble Energy, Inc.’s (NYSE: NBL) upstream assets in the Marcellus Shale play
- KKR/Venado Oil and Gas, LLC — $300 million acquisition of certain of EXCO Resources, Inc.’s (NYSE: XCO) producing and non-producing oil and natural gas properties in South Texas
- Blackstone Energy Partners and Sanchez Energy Corporation — 50/50 partnership, definitive purchase agreement and related financing to acquire Anadarko Petroleum Corporation’s working interest in approximately 318,000 gross operated acres in the Western Eagle Ford for approximately $2.3 billion
- EQT Production Company — $527 million acquisition of Stone Energy Corporation’s Marcellus and Utica Shale assets out of bankruptcy
- KKR — preferred financing of Covey Park Energy LLC’s $465 million acquisition of assets in the Haynesville shale area of North Louisiana from Chesapeake Exploration, LLC and related companies
- Indigo Haynesville — agreement to purchase from Chesapeake Energy Corp. a portion of its acreage and producing properties in its Haynesville Shale operating area in northern Louisiana for approximately $450 million and associated placement of second lien and equity financing with a syndicate of private equity firms
- Samson Resources Corporation — in the following sales of oil and gas assets as part of its ongoing Chapter 11 proceeding in the United States Bankruptcy Court for the District of Delaware: (i) sale of assets located in the Williston Basin to Resource Energy Can-Am LLC for $75 million; (ii) sale of assets located in the San Juan Basin to the Southern Ute Indian Tribe, doing business as Red Willow Production Co., for $116 million; (iii) sale of West Anadarko assets to Tecolote Holdings LLC for $131 million; (iv) sale of East Anadarko assets to Rebellion Energy LLC for $152 million; (v) sale of Central Anadarko assets to Fairway Resources Partners III LLC for $132 million; and (vi) sale of mineral interests located in the Permian Basin to Stone Hill Minerals Holdings LLC for $51.7 million
- Independent oil and gas company — formation of an acquisition partnership to acquire and develop oil and gas assets in the Permian Basin
- Private equity fund — divestiture of DJ Basin assets and entry into joint venture to acquire additional oil and gas assets
- Private equity fund — unwind of an existing drilling partnership with a private oil and gas company and associated acquisition of additional working interest in the Eagle Ford Shale
- KKR/Haymaker Resources LP — acquisition of Chesapeake Energy Corporation’s (NYSE: CHK) producing and non-producing mineral and royalty interests associated with over 8,500 wells across 24 states and 324 counties
- An undisclosed buyer in connection with the purchase of certain of Gastar Exploration Inc.’s oil and gas leasehold interests located primarily in northeast Canadian County and also in southeast Kingfisher County, Oklahoma for approximately $71 million
- Large global investment fund — formation of drilling participation arrangement with Gastar Exploration Inc. (NYSE: GST) to jointly develop up to 60 Gastar-operated wells in the STACK play in Kingfisher County, Oklahoma
- Independent oil and gas company — $423 million acquisition of Devon Energy Corporation’s (NYSE:DVN) oil and gas properties in the southern Midland Basin
- The Blackstone Group in connection with the formation of the Guidon Energy joint venture and the subsequent purchase of oil and gas assets in the Midland Basin
- TPG Special Situations Partners, LLC — formation of $400 million drilling partnership to develop domestic unconventional resources in the Midland Basin with Hunt Oil Company
- Private equity fund — formation of drilling partnership to develop assets in the Permian Basin
- Indigo Minerals LLC — $375 million equity capital raise and the acquisition of certain producing and undeveloped Cotton Valley and Haynesville properties from a private exploration and development company
- Independent oil and gas company — divestitures of undivided working interests in large-scale position in the Permian Basin
- Bayou City Energy in a joint development agreement with Alta Mesa Holdings, LP, to jointly develop AMH’s STACK play acreage located in Kingfisher County, Oklahoma
- Seneca Resources Corporation — formation of drilling partnership to develop unconventional resources in Pennsylvania with an affiliate of IOG Capital, LP and Fortress Investment Group, LLC (NYSE: FIG)
- Arc Logistics Partners LP in its $76.6 million acquisition of the limited liability company interests of UET Midstream, LLC from United Energy Trading, LLC
- KKR/Fleur de Lis Energy, LLC — acquisition of Anadarko Petroleum Corporation’s CO2 enhanced oil recovery properties in the Powder River and Green River Basins of Wyoming
- GSO Capital Partners LP — formation of $500 million drilling partnership to develop domestic unconventional resources with Linn Energy (NASDAQ: LINE)
- Arc Logistics Partners LP (NYSE: ARCX), an affiliate of Lightfoot Capital Partners, in connection with its $216 million acquisition of Joliet Bulk, Barge & Rail LLC from CenterPoint Properties Trust through a joint-venture arrangement with an affiliate of GE Energy Financial Services, a unit of General Electric Company (NYSE: GE)
- Private equity fund — formation of drilling partnership to develop unconventional resources in South Texas
- KKR — partnership with Anadarko Petroleum Corporation in the development of Anadarko's acreage in the Eaglebine field located in South Texas
- KKR/Fleur de Lis Energy — acquisition of LINN Energy’s Wolfberry positions in Ector and Midland counties in the Permian Basin
- The Blackstone Group and Vine Oil & Gas LP — $1.2 billion acquisition of the Haynesville assets of SWEPI LP and Shell Gulf of Mexico Inc., affiliates of Royal Dutch Shell plc
- East Resources and private oil company — $1.75 billion divestiture of oil and gas assets in the Utica and Marcellus Shale plays to affiliates of American Energy Partners, LP
Prior to joining Kirkland, Anthony's representative transactions included:
Acquisitions, Divestitures and Joint Ventures
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KKR — acquisition and development agreement targeting Eagle Ford Shale assets with EXCO Resources Inc. (NYSE: XCO)
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KKR — formation of drilling partnership with Cinco Natural Resources Corporation to develop Eagle Ford Shale assets
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KKR — formation of drilling partnership with Comstock Resources (NYSE: CRK) to develop 28,000 net acres of Eagle Ford Shale assets
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Private equity fund — formation of drilling partnership to develop Bakken Shale assets
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Carlyle Group — formation of joint venture with Hilcorp Energy to develop Utica Shale assets
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Private equity fund — formation of multiple drilling partnerships to develop Eagle Ford Shale assets
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Dominion Resources Inc. — farmout of 90,000 Marcellus Shale acres underlying gas storage fields to CONSOL Energy Inc.
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U.S. Subsidiary of OAO Rosneft — formation of joint venture to develop U.S. Gulf of Mexico deep-water exploration assets with ExxonMobil Corporation
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Marathon Oil Corporation — divestiture of its Alaskan oil and gas exploration and production and regulated gas pipeline businesses to Hilcorp Alaska, LLC
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Marathon Oil Corporation — $750 million acquisition of Paloma Partners II, LLC
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Major oil company — multiple acquisitions of Eagle Ford Shale oil and gas exploration and production assets
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Major oil company — acquisitions of Eagle Ford Shale pipeline system
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Major oil company — divestiture of U.S. Gulf Coast gas processing plant and pipeline
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Marathon Oil Corporation — $3.5 billion acquisition of Hilcorp Resources, LLC
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Marathon Oil Corporation — divestiture of interest in Kenai LNG plant and pipelines
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KKR — acquisition of overriding royalty interests and negotiation of production payment
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Private equity fund — negotiation of net profits interest in connection with mezzanine financing
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East Resources, Inc. — $4.7 billion divestiture of its Appalachian oil and gas exploration and production business to a subsidiary of Royal Dutch Shell plc.
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Dominion Resources, Inc. — $3.5 billion divestiture of its Appalachian oil and gas exploration and production business to a subsidiary of CONSOL Energy, Inc.
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Major energy company — acquisition of Barnett Shale assets
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EQT Corporation — $230 million divestiture of gas processing plant and associate midstream assets to a subsidiary of Mark West Energy Partners, L.P.
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Major energy company — divestiture of Barnett Shale pipeline system
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Major oil company — joint venture with private equity firm for development of Marcellus Shale assets and subsequent divestiture of joint venture
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Pogo Producing Company — $3.6 billion merger with Plains Exploration & Production Company
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Lyondell Chemical Company — auction of Lyondell-Citgo Refinery (LCR); subsequent $2.1 billion acquisition by Lyondell of CITGO's interest in LCR and formation of Houston Refining
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Lyondell Chemical Company — $1.05 billion divestiture of its worldwide titanium dioxide business to The National Titanium Dioxide Co. Ltd. (Cristal)
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Valero Energy Corporation — $2.1 billion divestiture of its crude oil refinery in Lima, Ohio, to Husky Energy Inc.
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Major international chemical company — proposed bankruptcy auction of a significant domestic specialty chemicals business unit
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Harvest Natural Resources — proposed divestiture of its Venezuelan oil and gas exploration and production business to PT Pertamina (Persero) [transaction terminated]
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International energy company — proposed formation of multibillion dollar joint venture to develop Eagle Shale assets
Other Energy Project Development
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International oil company — structuring of initial investments in U.S. Gulf of Mexico and onshore U.S. oil and gas assets
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Major oil company — negotiation of crude oil transportation agreements and pipeline construction arrangements to support Bakken Shale development
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Major oil company — proposed divestiture of fractional interests in U.S. Gulf of Mexico deep-water oil and gas portfolio and formation of joint venture
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International energy company — coal to liquids project with a Native American tribe in Montana
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Major oil company — development of gas to fuels technology and commercial implementation
More
Thought Leadership
Publications
Energy: Oil & Gas 2023, Chambers and Partners: Law and Practice, August 2023
Energy: Oil & Gas 2022, Chambers and Partners: Law and Practice, August 2022
Energy: Oil & Gas 2021, Chambers and Partners: Law and Practice, August 2021
Energy: Oil & Gas 2020, Chambers and Partners: Law and Practice
Oil And Gas Shut-Ins Risk Royalty Litigation, Law360, April 17, 2020
Dwindling Oil Storage Capacity and Impacts on Energy Companies, The Texas Lawbook, April 3, 2020
Energy: Oil & Gas 2019, Chambers and Partners: Law and Practice
Dealing with Midstream Commitments or Acquisitions as a Private Equity Purchaser, Rocky Mountain Mineral Law Foundation, April 2018
Energy: Oil & Gas 2018, Chambers and Partners: Law and Practice, July 2017
Trends and Issues with 'DrillCo' Transactions, Texas Lawyer, November 5, 2015
Recognition
Recognized as “Highly Regarded” by IFLR1000 for Mergers & Acquisitions, 2019–2024.
Ranked in Chambers Global for Energy: Oil & Gas — Transactional (Nationwide), 2020–2024.
Ranked in Chambers USA for Energy: Oil & Gas — Transactional (Nationwide), 2013–2021 & 2023–2024, and for Corporate/M&A (Texas), 2017–2024.
Recognized as “Highly Regarded” by IFLR1000 for Mergers & Acquisitions, 2019–2024.
Recognized as a Leading Lawyer in the 2017–2024 editions of The Legal 500 United States for Energy Transactions: Oil and Gas.
Selected to the Super Lawyers Texas Super Lawyers list, 2018–2020. Super Lawyers is a Thomson Reuters service.
Recognized in the Texas Lawyer as a “Distinguished Leader”, as part of its 2017 Professional Excellence Awards.
Recognized in Who’s Who Legal: Energy 2016 as one of the world's leading energy lawyers.
Selected to the Super Lawyers Texas Rising Stars list, 2009–2015. Super Lawyers is a Thomson Reuters service.
Recognized in Law360 as a "Rising Star" for Energy, 2015.
Credentials
Admissions & Qualifications
- Texas
Education
- Tulane University Law SchoolJ.D.summa cum laude2005Tulane Law Review
- Tulane UniversityB.A., Sociologycum laude1997