Thompson & Knight Assists Mitsui In $1.4 Billion Marcellus Shale Joint Venture With Anadarko

Monday, April 5, 2010 - 00:00

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 percent 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 United States.