Locke Lord acted as legal counsel for Targa Resources Corp. and the company’s subsidiary, Targa Resources Partners LP, in the acquisition of 100 percent of the membership interests of Outrigger Delaware Operating, LLC, Outrigger Southern Delaware Operating, LLC and Outrigger Midland Operating, LLC. The deal closed March 1, 2017 and included an initial cash consideration of $565 million and total potential consideration that could be paid to sellers is $1.5 billion. The acquisition greatly expands Targa’s Permian Basin footprint. For more information, please see Targa’s press release. The Locke Lord team was led by Bill Swanstrom and Phil Lau (both of Houston) and included: John Arnold (Houston) for Regulatory matters, Van Jolas (Dallas) for Antitrust, Ryan Morgan and Michelle Gutierrez-Begin (both of Houston) for Real Estate, Hanna Norvell (Houston) for Labor and Employment, Gerry Pels (Houston) for Environmental, Ed Razim (Houston) for ERISA and Buddy Sanders (Houston) for Tax. Additional assistance was provided by Jeannie Diep (Houston) and Elizabeth Genter (New York) for Corporate.
Posted January 23, 2017
Updated March 2, 2017