Justin T. Stolte is a partner in the Houston office of Gibson, Dunn & Crutcher, and a member of the firm’s Mergers and Acquisitions and Energy and Infrastructure practice groups. He represents exploration and production companies, midstream companies, private equity sponsors, and other financial institutions in complex transactions across the energy sector, with a particular focus on mergers, acquisitions, divestitures, and joint ventures involving upstream (onshore and offshore), midstream (gathering, processing, transportation, fractionation, and storage), liquefied natural gas (LNG), and downstream (petrochemicals and refining) assets.
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 in the Permian Basin prior to law school. He received a J.D., cum laude, from the University of Notre Dame Law School, 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.
Mr. Stolte is recognized in the following publications:
- Chambers USA: America’s Leading Lawyers (2014, 2019);
- Law360 as a “Rising Star” for Energy (2014, 2018);
- The Legal 500 U.S. as a “Next Generation Lawyer” for Energy Transactions (2018);
- American City Business Journals on its list of “The Influencers: Law” (2018);
- Houston Business Journal as a “40 under 40” honoree (2018);
- Oil & Gas Investor as a “Top 30 under 40” honoree (2015); and
- Texas Monthly as a “Texas Rising Star” (2012 through 2015).
Representative Matters – M&A
- Marathon Oil Corp. – $140 million pending divestiture of North Sea businesses to Rockrose Energy Plc.
- Penn Virginia Corporation – (1) $205 million acquisition of certain of Devon Corporation’s producing and non-producing assets located in the Eagle Ford, (2) $86 million acquisition of certain of Hunt Oil’s producing and non-producing assets located in the Eagle Ford, and (3) $1.7 billion proposed merger with Denbury Resources Inc.
- Encino Acquisition Partners, LLC – $2.0 billion acquisition of Chesapeake Energy Corporation’s Utica Shale business, comprised of over 900,000 net acres of producing and non-producing assets and a midstream business
- ArcLight Capital Partners, LLC – $1.1 billion acquisition of Midcoast Operating, L.P., a company which owns natural gas and NGL gathering, processing, transportation, and marketing assets in Texas, Oklahoma, and Louisiana, from Enbridge Inc.
- 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) $600 million acquisition of certain producing and non-producing assets located in the Permian Basin, and (2) $9.5 billion merger with RSP Permian Inc. in an all-stock transaction to form the largest “pure-play” Permian Basin E&P
- SK E&P America, Inc. – (1) acquisition of Longfellow Nemaha, LLC, a private company with producing and non-producing assets located in the STACK, for an undisclosed purchase price, and (2) acquisition of Aju Holdings’s producing and non-producing assets in the STACK for an undisclosed purchase price
- Chisholm Energy, LLC – (1) acquisition of certain of Enduro Royalty Trust’s producing and non-producing assets located in the Permian Basin for an undisclosed purchase price, and (2) acquisition of Resource Rock Exploration’s producing and non-producing assets located in the Permian Basin for an undisclosed purchase price
- Enduring Resources, LLC – (1) $1.3 billion divestiture of upstream and midstream businesses located in the Eagle Ford to Talisman Energy USA Inc. and Statoil Texas Onshore Properties LLC,* (2) $2.5 billion divestiture of upstream and midstream businesses located in the Permian Basin to American Energy – Permian Basin, LLC,* and (3) $300 million acquisition of certain producing and non-producing assets located in the San Juan Basin
- Independent E&P company – $391 million sale of equity interests in an ammonia fertilizer plant located in Western Australia*
- Independent E&P company – 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 – Joint Ventures
- Repsol E&P USA Inc. – asset exchange transaction and joint development arrangement with LLOG Exploration involving several deep-water blocks in the Gulf of Mexico
- Concho Resources Inc. – “Beta Crude Connector” midstream joint venture with Frontier Midstream to develop a gathering and transportation system consisting of a 100+ mile gathering system, 250,000+ barrels of crude oil storage facilities, and certain associated truck terminals
- 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 for the transportation of 1.0 million BOE/d 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
- Summit Midstream Partners, LP – proposed “Double E” midstream joint venture to develop a common-carrier pipeline for the transportation of 1.0 Bcf/d of natural gas from the Delaware Basin to the Waha Hub
- 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 for the transportation of 1.5 Bcf/d to 2.0 Bcf/d of natural gas from the Permian Basin to Katy and the Houston Ship Channel
- Arsenal Resources – produced water joint venture with undisclosed third party in the Utica
- Howard Energy Partners – joint venture involving midstream assets located in South Texas*
- BG Group Plc. – $1.3 billion “cash and carry” joint venture with Exco Resources Inc. in the Haynesville*
* Matters prior to joining Gibson, Dunn & Crutcher