Baker Botts Ranked as a Top M&A Legal Adviser for Oil Sector

Baker Botts LLP was ranked the No. 1 legal adviser for global oil and gas M&A deals by value through the first three quarters of 2021 based on a recent GlobalData report.

Similarly, Vinson & Elkins was ranked by GlobalData as the top legal adviser for global oil and gas M&A deals in terms of volume during the same period.

Baker Botts noted in an Oct. 28 release it had increased its rankings even further this year across the entire energy spectrum, “solidifying its leadership in a broad range of subsectors that include oil and gas, LNG, power and renewables.” As a result, the international law firm, headquartered in Houston, advised on several of the most significant M&A transactions in the oil and gas industry this year alone. These have included representations of:

• Cabot Oil & Gas in its $17 billion merger with Cimarex;
• ConocoPhillips in its $9.5 billion acquisition of Shell’s prolific Delaware basin position; 
• CenterPoint in Energy Transfer’s $7.2 billion acquisition of Enable Midstream Partners; 
• Crestwood Equity Partners in its $1.8 billion acquisition of Oasis Midstream Partners; and
• The Conflicts Committee of Noble Midstream Partners in the $1.3 billion acquisition by Chevron Corp. of Noble Midstream.

Based on GlobalData’s criteria, Baker Botts advised on 20 oil and gas M&A deals during the first three quarters of 2021, worth $35.9 billion, which was the highest value among all legal advisers. Meanwhile, GlobalData listed Vinson & Elkins as the top legal adviser in terms of volume, having advised on 34 deals worth $32.8 billion.

Overall, a total 1,257 M&A deals were announced in the oil and gas sector during this period, according to the GlobalData report.