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Latham & Watkins Advises Centennial Resource Development in its Merger with Colgate Energy

May 19, 2022
A multidisciplinary team advises on the merger of equals that will create a US$7 billion Permian Basin pure-play E&P company.

Centennial Resource Development, Inc. (NASDAQ: CDEV) and Colgate Energy Partners III, LLC have announced they have entered into an agreement to combine in a merger of equals transaction. The combined company will be the largest pure-play E&P company in the Delaware Basin with approximately 180,000 net leasehold acres, 40,000 net royalty acres, and total current production of approximately 135,000 Boe/d. The combined company plans to leverage its high-quality, scaled asset base to drive leading shareholder returns.

Latham & Watkins LLP represents Centennial Resource Development, Inc. in the transaction with a corporate deal team led by Houston partners John Greer and Ryan Maierson, with associates Thomas Verity, Bryan Ryan, Jordan Mack, Brent Wagner, Ziyad Barghouthy, and Zek Zhang. Advice was also provided on tax matters by Houston partner Jim Cole, with associates Michael Rowe and Marianne Standley; on antitrust matters by Washington, D.C. partner Mike Egge, with associate Mary Casale; on benefits and compensation matters by Washington, D.C. partner Matthew Conway and counsel Laura Szarmach, with Chicago associate Victoria Wolfe; on environmental matters by Washington, D.C. partner James Barrett, with associate Andy Landolfi; on finance matters by Houston partner Catherine Ozdogan; and on oil and gas related matters by Houston partners Robin Fredrickson and Jeff Munoz, with associate Robert Cunningham.