Simpson Thacher is representing JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC and Citigroup Global Markets, Inc. in connection with the $1.925 billion committed financing for the acquisition of the Jonah field natural gas assets of Encana Corp. by an affiliate of TPG Capital, Maverick American Natural Gas. The sale is expected to close in the second quarter of this year.
The assets had estimated proved reserves of 1,493 billion cubic feet equivalent at the end of 2013 and include over 100,000 undeveloped acres in addition to the Jonah field, which has more than 1,500 active wells spanning over 24,000 acres.
The Simpson Thacher team included J.T. Knight, Robert Rabalais, Bill Sheehan, Richard Sitton, Jessica Tuchinsky, James Doyle, Eddie Bontkowski, Ben Baucom, Grant Manning, and Angela McCray (Credit); Ed Chung (M&A); John Ericson and Brian Rosenzweig (Securities); Chang Won Choi (Tax); David Rubinsky, Douglas Tang and Brittany McCants (Executive Compensation & Employee Benefits); Krista Miniutti and Brandon Greer (Real Estate); and Michael Isby (Environmental).