(openPR) - Houston (March 17, 2010) – The global law firm of Thompson & Knight LLP has assisted Mitsui & Co. Ltd. (“Mitsui”), through its subsidiary Mitsui E&P USA LLC, in a $1.4 billion deal with Anadarko Petroleum Corp. (“Anadarko”) to jointly explore for and develop natural gas in the Marcellus Shale Formation.
Under the terms of the agreement, Mitsui will participate with Anadarko as a 32.5% partner in the development of its Marcellus Shale assets by investing $1.4 billion. Mitsui’s total expected commitment under the project over time is expected to reach between $3 billion and $4 billion.
Toshi Yoshida and William Prescott Mills Schwind led the Thompson & Knight team of attorneys working on the transaction, which included Arthur J. Wright, Ron W. Fry, Ned Price Jr., Joe F. Flack III, and Lucas A. LaVoy of the Firm’s Oil and Gas Practice Group; Gabriel Salinas of the Firm’s International Energy Practice Group; Emily A. Parker, R. David Wheat, and Sam L. Merrill of the Firm’s Tax Practice Group; Scott D. Deatherage of the Firm’s Environmental Law Practice Group; Bill McDonald and Marlen D. Whitley of the Firm’s Corporate and Securities Practice Group; John W. Rain of the Firm’s Finance Practice Group; and Bohdan S. Kosovych of the Firm’s Real Estate and Banking Practice Group.
Mitsui, a leading Japanese general trading firm, has more than 700 subsidiaries worldwide, including entities in the energy, machinery, chemicals, food, textile, logistics, and finance industries. Mitsui E&P USA LLC focuses on the exploration, development, production, and sale of crude oil, natural gas, and other mineral resources in the U.S.
Headquartered in Texas, Anadarko is among the largest independent oil and natural gas exploration and production companies in the world, with approximately 2.3 billion barrels of oil equivalent of proved reserves at the end of 2009. Anadarko has assets in nearly a dozen major U.S. onshore natural gas resource plays, is the largest independent deepwater producer in the Gulf of Mexico, and is involved in exploration and production around the globe.
About Thompson & Knight
Since 1887, Thompson & Knight LLP has consistently made a positive impact on its clients’ successes. With its practice focused on the energy industry, the Firm has extensive resources in litigation, tax, insolvency, and international energy matters. The Firm has approximately 350 attorneys, and has offices and alliances in North America, Europe, Africa, and Asia. Thompson & Knight represents companies, government entities, and individuals in local, regional, and national markets around the world.
Barry Pound
Androvett Legal Media
2501 Oak Lawn Ave.
Suite 650
Dallas, Texas 75219
800-559-4534 barry@androvett.com
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