Consulting
Whitecase
Full Credential Description
Occidental Petroleum, a major player in the oil and gas industry, faced the challenge of divesting certain gas gathering assets located in the Midland Basin. The company sought to streamline its operations and focus on its core business areas, which necessitated a strategic sale of these assets. To facilitate this complex transaction, Occidental engaged the of White Case LLP, a global law firm with expertise in mergers and acquisitions. White Case provided a tailored solution that involved a comprehensive legal advisory throughout the sale process, ensuring compliance with regulatory requirements and addressing potential antitrust issues. The firms team, which included specialists in mergers and acquisitions, tax, real estate, and antitrust law, worked collaboratively to navigate the intricacies of the deal. This multidisciplinary approach was crucial in structuring the sale effectively and mitigating risks associated with the transaction. The outcome of this collaboration was the successful sale of the gas gathering assets for a total of $580 million to an affiliate of Enterprise Products Partners L.P., a leading midstream energy provider in North America. This transaction not only allowed Occidental to achieve its divestment goals but also positioned Enterprise Products to enhance its operational capabilities in the region. The deal exemplified a strategic alignment of interests between the two companies, ultimately benefiting both parties in the competitive energy market.