June 02, 2021
Colgate Energy Partners III, LLC (Colgate) has announced that it has entered into a definitive agreement under which Colgate will acquire a majority of the assets owned by Luxe Energy LLC (Luxe) in an all-stock transaction. Luxe will continue to own and manage certain assets including a portion of the non-operated leasehold interests that are operated by MDC Reeves Energy, LLC and its affiliates. Closing occurred simultaneously with signing of a definitive agreement on June 1, 2021.
Latham & Watkins LLP represented Colgate Energy Partners III, LLC in the transaction with a corporate team led by Houston partner James Garrett, with Houston associate Thomas Verity. Advice was also provided on oil and gas matters by Houston partner Stephen Szalkowski; on tax matters by Houston partner Jim Cole; on environmental matters by Los Angeles counsel Joshua Marnitz; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum; and on restructuring matters by New York partner David Hammerman.