DALLAS, April 17, 2013 /PRNewswire/ -- Attorneys with the law firm of Thompson & Knight LLP represented TEAK Midstream, L.L.C. ("TEAK"), a privately owned midstream natural gas company based in Dallas, in the execution of a $1 billion definitive agreement with Atlas Pipeline Partners, L.P. ("Atlas"). The transaction, announced on April 16, 2013, is awaiting regulatory approval and is expected to close in the second quarter of 2013.
Partners Jeffrey A. Zlotky and J. Holt Foster, III led the Thompson & Knight team on behalf of TEAK, which included Partner R. David Wheat and Associates Jesse E. Betts, Melissa Persons, and Emily S. Tubb. Other Thompson & Knight attorneys supporting the transaction included Partners Anthony J. Campiti, Jason Patrick Loden, and John W. Rain and Associates Brandon L. Bloom, Anna R. Irion, Lucas A. LaVoy, Michael Lii, and Van Wiltz.
Under the terms of the agreement, Atlas will acquire 100 percent of the equity interests of TEAK for $1 billion in cash. TEAK assets, located in the core of the Eagle Ford Shale in South Texas, include two facilities with a processing capacity of 200 million cubic feet, 205 miles of gathering and residue lines with 750 million cubic feet of throughput capacity, and 275 miles of low pressure gathering lines. Atlas will also acquire a 50 percent interest in two joint ventures and a 75 percent interest in a third joint venture that currently exist between TEAK and TexStar Midstream Services, L.P.
"We are proud to have assisted TEAK in this significant transaction," says Zlotky, a Partner in the Corporate and Securities Practice Group of Thompson & Knight's Dallas office. "This deal is the latest example of Thompson & Knight's work on a major transaction in the prolific Eagle Ford Shale."
TEAK is a portfolio company of Natural Gas Partners, a family of investment funds with over $10 billion of committed capital under management since 1988.
Thompson & Knight has been named "Law Firm of the Year" in Oil & Gas Law in the 2011-2012 and 2013 consecutive editions of Best Law Firms, the preeminent listing of the nation's top legal practices published by U.S. News & World Report and The Best Lawyers in America®. Zlotky, Foster, Wheat, and Rain have also been ranked among top attorneys in The Best Lawyers in America® 2013 by Woodward/White Inc.
For additional information: Becky S. Jackson, Thompson & Knight LLP, 214.969.1478.
SOURCE Thompson & Knight