Jan Sharry in Mergermarket: M&A Dealmaker Q&A

05/08/2013


Following the tragic death of Rise Energy Partners President and CEO Brian Jennings in May of 2012, his fellow executives and shareholders, along with corporate advisors decided to do something to ensure that his family would be taken care of in the long term.

With the aid of attorneys from Haynes and Boone, LLP, and investor Natural Gas Partners, Rise closed a deal to sell its offshore California production to Memorial Production Partners LP (NASDAQ: MEMP) at the end of 2012 for USD 271m. Rise originally acquired the assets, a 52 percent stake in the offshore Beta field near Long Beach, Calif., in 2010 for USD 80m in a bankruptcy deal. Jennings’ estate, along with its other key executives and NGP were all large stakeholders in Rise, which is a private, limited partnership.

Janice Sharry, partner in the Dallas office of Haynes and Boone, spoke with Mergermarket about the unusual circumstances surrounding this sale.

Excerpted from Mergermarket, Mary 8, 2013. To view full article, click here.

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