Kirkland & Ellis LLP advised Newfield Exploration Co. (NYSE: NFX) on its acquisition by Encana Corp. (TSX, NYSE: ECA) in an all-stock transaction valued at approximately $5.5 billion. In addition, Encana will assume $2.2 billion of Newfield net debt. The strategic combination will create a leading multi-basin oil and gas company.
This is Kirkland’s second public energy company deal, as well as its second cross-border public M&A transaction, in less than four weeks, with a combined value of $17.5 billion. Kirkland advised Rowan Companies plc on its $12 billion combination with Ensco plc. These transactions are further evidence of Kirkland’s strength in complex public company M&A. Kirkland’s release is here.
The Kirkland team was led by corporate partners Sean T. Wheeler, Doug Bacon, Anthony Speier, Ryan Gorsche, Benjamin Adelson, and Rahul Vashi and associates Camille Walker, Jennifer Singh and Lindsey Jaquillard; tax partners David Wheat and Mike Carew; executive compensation partner Scott Price and associate Laura Gallo; environmental transactions partner Paul Tanaka: and employee benefits partner Alexandra Mihalas.