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Latham & Watkins Advises Lucid Energy Group in its US$3.55 Billion Acquisition by Targa Resources Corp.

June 17, 2022
A multidisciplinary team advises the midstream energy company providing services in the core of the Delaware Basin.

Lucid Energy Group, the largest privately held natural gas processor in the Permian Basin, and Targa Resources Corp. (NYSE: TRGP), one of the largest independent midstream infrastructure companies in North America, have announced definitive agreements under which Targa will acquire Lucid Energy Delaware, LLC from Riverstone Holdings LLC and the direct alternative investing business of Goldman Sachs Asset Management, for US$3.55 billion in cash.

Latham & Watkins LLP represents Lucid Energy Group in the transaction with a corporate deal team led by New York/Houston partner Charles Carpenter and Houston partner James Garrett, with Houston associates Justin Thekkekara, Zainab Hashmi, and Hunter Newell. Advice was also provided on tax matters by Houston partner Jim Cole, with Houston associate Christine Mainguy; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum, with Los Angeles associate Courtney Thomson; on antitrust matters by Washington, D.C. partner Michael Egge, with Washington, D.C. associates Doug Tifft and Brian Goodell; on energy regulatory matters by Washington, D.C. partner Patrick Nevins; on environmental matters by Houston partner Joel Mack and Los Angeles counsel Joshua Marnitz, with Houston associate Joseph Kmetz; on data privacy matters by Houston counsel Robert Brown; on finance matters by Houston partner Catherine Ozdogan, with Houston associates Max Fin and Michael Basist; on real estate matters by New York counsel Shira Bressler; on insurance matters by San Diego associate Steven Lesan; on sanctions matters by Washington, D.C. counsel Andrew Galdes; on RWI matters by San Diego associate Hannah Cary; on intellectual property matters by Washington, D.C. counsel Kieran Dickinson; and on capital markets matters by Austin partner David Miller, with Houston associate Om Pandya.