Vinson Elkins

Houston Scenics

Here is a pretty crazy sequence of events that just went down in the Houston legal market.

Think of Texas and the mental movie is obvious: old fashioned oil rigs, big hats, big hair, big boots and conservative politics. Not much room for innovation, information technology, renewable energy or energy efficiency efforts in that narrative, but Texas confounds expectations. Keep reading →

Drilling for natural gas in Pennsylvania will continue to expand unabated if a pair of substantial independent energy firms have their way. Noble Energy and CONSOL Energy said today they have a partnership agreement in place that will boost their drilling rigs in the state’s Marcellus Shale from four to sixteen in the next four years.

Noble Energy will pay $1.07 billion for a 50% interest in CONSOL’s 663,350 net undeveloped acres of natural gas properties in Pennsylvania and West Virginia as part of a total deal worth $3.4 billion to CONSOL. Noble will pay development costs up to a $400 million cap each year, with funding linked to the price of natural gas. Noble is paying for the deal out of its cash and currently untouched revolving credit facility. Keep reading →