Austin T. Lee, partner at Bracewell LLP, is today’s Forty Under 40 featured honoree.
In early 2017, Austin helped lead the Houston-based law firm’s team that represented Parsley Energy Inc. in its acquisition of all the Permian Basin holdings of Double Eagle Energy Permian Operating LLC. The transaction’s value, which included a combination of cash and equity, totaled about $2.8 billion.
At Bracewell, Austin said he regards his supervising partner, J.J. McAnelly, as a friend, boss and mentor.
“While he has taught me many of the fundamental skills I have learned as an A&D lawyer, I think the most important thing he has shown me is the value of putting the people you work with, both clients and colleagues, first,” he said.
The parties must now renegotiate a deal that would transfer Breitburn's Permian reserves to investors including Elliott and WL Ross through their participation in a $775 million rights offering.
QEP Resources launched a comprehensive review of strategic alternatives on Feb. 20, which the Denver-based company said could include a sale to activist investor Elliott Management Corp.
In a two-hitter, Mid-Con Energy agreed to sell substantially all of its Texas properties while also picking up producing Oklahoma properties.