Skip to content

Distressed Asset Acquisitions & Investments

Vinson & Elkins’ Restructuring & Reorganization lawyers routinely advise prospective purchasers and investors in various distressed asset acquisitions and investments through sales in bankruptcy cases, in out-of-court transactions, and via state law processes. Our lawyers frequently team up with V&E Mergers & Acquisitions lawyers to maximize results for clients seeking to acquire or invest in distressed assets. We also regularly advise clients regarding bankruptcy-related risks that may affect prospective investments, divestitures, and purchases. Our broad experience in the energy, commodities, retail, wholesale, manufacturing, real estate, and health care industries, among others, enables our team to understand the unique issues facing distressed investors and asset purchasers across many industries.

Experience Highlights

  • Riverstone Holdings in its capacity as second lien lender and private equity sponsor in connection with Fieldwood Energy’s restructuring, including the conversion of more than $1.6 billion in funded debt to equity, its $525 million new money rights offering, and the acquisition of Noble Energy’s deepwater assets in the Gulf of Mexico, all as effectuated through prepackaged chapter 11 cases

  • PennEnergy Resources, LLC in connection with its purchase of substantially all of the assets of Rex Energy Corporation for $600.5 million and negotiation of a comprehensive global settlement to the chapter 11 case

  • Jonah Energy, LLC in connection with its asset purchase agreement with LINN Energy, Inc. to acquire natural gas and oil producing properties in the Jonah and Pinedale fields

  • TPG Pace Energy Holdings, a Special Purpose Acquisition Company (SPAC) and affiliate of TPG, in the $2.66 billion acquisition of oil and gas assets from EnerVest

  • Rice Energy Inc., an oil and gas exploration and production company, in connection with its stalking horse asset purchase agreement with Alpha Natural Resources, Inc. to acquire certain assets through Alpha’s chapter 11 bankruptcy proceedings for $200 million

  • Angelo, Gordon Energy Servicer, LLC as administrative agent for a prepetition secured credit facility and a debtor in possession credit facility in the chapter 11 bankruptcy case of Weatherly, Oil & Gas, LLC 

  • Patterson-UTI Energy, Inc., a provider of contract drilling and pressure pumping services, in the all-stock transaction purchase agreement from Seventy Seven Energy Inc.

  • Resource Energy Partners LLC  (sponsored by Apollo Global Management) as purchaser of substantially all of the E&P assets of American Eagle Energy Corporation pursuant to Section 363 of the Bankruptcy Code (District of Colorado)

  • Highbridge Principal Strategies in connection with Shoreline Energy’s restructuring efforts and its chapter 11 cases

  • TH Exploration III, LLC as the section 363 stalking horse bidder for the Appalachia Assets marketed for sale in the chapter 11 case of Stone Energy filed in Houston, Texas

  • Resource Energy Partners LLC (sponsored by Apollo Global Management) as purchaser of E&P assets from Samson Resources Corporation pursuant to Section 363 of the Bankruptcy Code (District of Delaware)

  • Shelf Subsea Services, an SCF Partners portfolio company, in the $17 million acquisition of the Australian and Asian assets of Cal Dive International

  • A confidential bidder in connection with SunEdison’s chapter 11 cases

  • Sanjel Corporation and affiliated entities as debtors in chapter 15 proceedings in Western District of Texas in relation to foreign main proceeding under Canadian Companies’ Creditors Arrangement Act (CCAA) and sale of domestic and international assets in the two proceedings 

Related Insights