Haynes and Boone Participates in "Largest Oil Deal of the Year"

December 01, 2008

Oil Well That Ends Well
American Lawyer

Despite fluxuating energy prices over recent quarters, there has been a steady flow of activity in the oil and gas section.  In its December "Deals and Briefs" column, American Lawyer touts XTO Energy's acquisition of Haynes and Boone client Hunt Petroleum Corporation as the largest oil deal of the year. 

A family feud felled one of the legendary names in the oil business when Hunt Petroleum Corporation agreed on June 10 to be acquired by XTO Energy Inc. for $4.2 billion in cash and stock.  The target was founded 80 years ago by the late Haroldson Lafayette Hunt, Jr.  The company supported his 14 children in style, among them Nelson Bunker Hunt, who tried to corner the world's silver market in 1979, and Lamar Hunt, longtime owner of the Kansas City Chiefs.  But disputes over the family trusts that owned Hunt Petroleum led the family to sell the company, whose oil and natural gas reserves in east Texas and Louisiana and along the coastline of the Gulf of Mexico were a draw for XTO. 

Haynes and Boone Partners Tom Harris, William Hays III, and W. Scott Wallace represented the boards of related companies Hassie Hunt Exploration Co. and Hassie Hunt Production Co.

Article excerpted from American Lawyer, December 2008. To read more about the Hunt Petroleum acquisition, click here

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