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NEWS

Tall Oak Midstream Sells TOM-STACK, LLC and TOMPC LLC to EnLink Midstream

December 07, 2015

HOUSTON -- Paul Hastings LLP, a leading global law firm, announced today that it represented Tall Oak Midstream, LLC (“Tall Oak”) in connection with the definitive Securities Purchase Agreements to sell its subsidiaries TOM-STACK, LLC (“TOM-STACK”) and TOMPC LLC (“TOMPC”) to a subsidiary of EnLink Midstream Partners, LP and EnLink Midstream, LLC (together, “EnLink”) for approximately $1.55 billion, subject to certain adjustments.

Under the terms of the definitive agreements, the purchase price will be paid in three installments, with the first installment of $1.05 billion to be paid at closing, the second installment of $250 million to be paid no later than the first anniversary of the closing date, and the third installment of $250 million to be paid no later than the second anniversary of the closing date. The transaction, which is expected to close in the first quarter 2016, is subject to the satisfaction of customary closing conditions, including applicable regulatory approvals, as well as the completion of Devon Energy Corp.’s acquisition of Felix Energy, LLC, which is expected to occur concurrently with the Tall Oak closing.

Energy M&A partner Jimmy Vallee led the Paul Hastings team, which also included Energy M&A associates Kim HicksWill Mabry and Andrew Deas, MLP Tax partner Greg Nelson, Energy Finance partner Lindsay Sparks, Antitrust partner Scott Hataway, Energy Regulatory partner William DeGrandis, Environmental partner Lisa Rushton and Employment partner Mark Poerio.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.

Practice Areas

Environment and Energy

Securities and Capital Markets

Energy


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