Justin T. Stolte is a partner in the Houston office of Gibson, Dunn & Crutcher, Co-Leader of the firm’s Energy group and Co-Chair of its Oil & Gas practice, and a member of the firm’s Mergers & Acquisitions practice group. His practice focuses on strategic transactions across the energy sector.
Mr. Stolte is recognized in Chambers USA, America’s Leading Lawyers for Business (2014, 2019) and The Legal 500 U.S. (2018–2019). In addition, he was named a Rising Star in Energy in 2018 and 2014 by Law 360; a 40 under 40 honoree in 2018 by Houston Business Journal; a Top 30 under 40 honoree in 2015 by Hart Energy; and a Texas Rising Star for 2012–2015 by Texas Monthly. He was also recently named by American City Business Journals to its list of The Influencers: Law, which “spotlights 100 attorneys who are having an impact on business and legal matters in communities across the nation.”
Mr. Stolte has significant experience in several segments of the energy industry, having previously worked in business development and commercial roles at Apache Corporation and as a petroleum engineer for Chevron prior to law school. He is a frequent speaker and author on trends in the energy industry – particularly in the areas of mergers and acquisitions and other energy transactions – and serves on the Advisory Committee for The Institute for Energy Law.
Representative Matters – M&A
- ArcLight Capital Partners, LLC – (1) Third Coast Midstream’s acquisition of midstream assets located in Alabama and Mississippi from Southcross Energy, and (2) $1.1 billion acquisition of Midcoast Operating, L.P from Enbridge Inc.
- SK Innovation – (1) $1.1 billion pending divestiture of Blocks 56 and 88 located in Peru to Pluspetrol Corporation, and (2) $453 million acquisition of Longfellow Nemaha, LLC
- Private equity fund – proposed acquisition of ethanol plants located in Nebraska and Iowa
- Private company – acquisition of crude terminalling and storage business located in Alaska
- Marathon Oil Corp. – $140 million divestiture of North Sea businesses to Rockrose Energy Plc.
- Penn Virginia Corporation – (1) $1.7 billion proposed merger with Denbury Resources Inc., (2) $86 million acquisition of Eagle Ford assets from Hunt Oil, and (3) $205 million acquisition of Eagle Ford assets from Devon Energy Corporation
- Encino Acquisition Partners, LLC (CPPIB) – $2.0 billion acquisition of Utica Shale business from Chesapeake Energy Corporation
- EnerVest, Ltd. – $2.7 billion business combination of EnerVest’s South Texas Division with TPG Pace Energy Holdings to form Magnolia Oil and Gas Corporation
- Concho Resources Inc. – (1) $9.5 billion merger with RSP Permian Inc., and (2) $600 million acquisition of Permian Basin assets from Occidental Petroleum
- Chisholm Energy, LLC (Warburg Pincus) – (1) acquisition of Permian Basin assets from Resource Rock Exploration, and (2) acquisition of Permian Basin assets from Enduro Royalty Trust
- Enduring Resources, LLC (EnCap) – $300 million acquisition of San Juan Basin assets from Chevron Corporation
- Independent E&P company – (1) $391 million divestiture of equity interests in an ammonia fertilizer plant located in Western Australia,* and (2) several transactions involving LNG and midstream assets with an aggregate transaction value in excess of $6.0 billion*
- Dominion Resources – several transactions involving Marcellus and Utica assets for an aggregate transaction value in excess of $3.8 billion*
Representative Matters – JVs and Other Strategic Transactions
- ArcLight Capital Partners, LLC – $1.0 billion recapitalization transaction involving a preferred equity investment and new term loan facility for a portfolio company
- Repsol E&P USA Inc. – (1) alignment transaction and multi-billion dollar development arrangements with Oil Search (Alaska) for the Nanushuk Field in Alaska’s North Slope, and (2) asset exchange transaction and joint development arrangement with LLOG Exploration involving several deep-water blocks in the Gulf of Mexico
- Summit Midstream Partners, LP – “Double E” midstream joint venture to develop a common-carrier pipeline from the Delaware Basin to the Waha Hub
- Concho Resources Inc. – “Beta Crude Connector” midstream joint venture with Frontier Midstream to develop a gathering and transportation system in the Permian Basin
- Rosehill Resources Inc. – acreage exchange and multi-well farmout transaction involving Permian Basin assets
- EnCap Flatrock Midstream (Lotus Midstream, LLC) – “Wink to Webster” midstream joint venture with ExxonMobil and Plains All American Pipeline, L.P. to develop a common-carrier pipeline system from the Permian Basin to the Gulf Coast
- Private equity fund – equity investment in a joint venture company to develop a 3.0 gigawatt LNG-fueled power plant located in Vietnam
- Private equity fund – $400 million drilling joint venture to develop producing and non-producing assets located in Kern County, California
- Sempra Energy, Inc. – proposed “P2K” midstream joint venture with Boardwalk Pipeline Partners to develop a pipeline project from the Permian Basin to Katy and the Houston Ship Channel
- Arsenal Resources – produced water joint venture with undisclosed third party to develop water infrastructure business for Utica upstream assets
Mr. Stolte received a J.D., cum laude, from the University of Notre Dame Law School. He received an M.B.A. from Massachusetts Institute of Technology’s Sloan School of Management, and a B.S. in Petroleum Engineering, high honors, from the Colorado School of Mines.
* Matters prior to joining Gibson, Dunn & Crutcher