International law firm Clifford Chance has advised Marubeni Corporation, a Japanese trading conglomerate, on acquiring Texas-based independent natural gas exploration and production company EagleRidge Energy II and its subsidiaries for an undisclosed amount.
The transaction forms part of Marubeni’s mid-term management strategy, GC2027, under which the company plans to allocate JPY200 billion (USD1.2 billion) to resource investments during the three-year period through fiscal year 2027.
Partners Jonathan Bobinger and David Sweeney, global co-head of the energy and resources sector, led the Clifford Chance team.
They were supported by partners Joclynn Marsh, Ty’Meka Reeves-Sobers, Todd Lowther and Reuven Falik, as well as associates Ed Vaunder, Melissa Sanchez, Thomas Shattuck, Trumond Best, Tasneem Zakir, Luis Sierra-Garriga, Jesse Dowdle, Kade Moural, Ella Chen, Emma Himes and Nic Johnson.
EagleRidge Energy II and its subsidiaries operate more than 2,300 wells across more than 330,000 gross acres across 16 counties in the Barnett Shale, Fort Worth Basin, in Texas.
Following the transaction, Marubeni is expected to have a production capacity in Barnett Shale of around 1.3 million tonnes of liquefied natural gas annually.
