Occidental (NYSE: OXY) has announced it entered into a purchase agreement to acquire Midland-based oil and gas producer CrownRock L.P., a joint venture of CrownQuest Operating LLC and Lime Rock Partners, for cash and stock in a transaction valued at approximately US$12 billion, including the assumption of CrownRock’s debt.

Latham & Watkins LLP represents Occidental in the transaction with a corporate deal team led by Houston partners John Greer and Bill Finnegan and Houston counsel Thomas Verity, with associates Bryan Ryan, Morgen Seim, and Molly Elkins. Advice was also provided on debt matters by Austin partner Samuel Rettew; on benefits matters by Houston counsel Krisa Benskin, with associate Christina Schrantz; on antitrust matters by Washington, D.C. partner Jason Cruise and Washington, D.C. counsel Peter Todaro, with associates Matthew Piehl, Doug Tifft, and Ethan Hoffman; on finance matters by Houston partner Matthew Jones, with associate Chris Wood; on tax matters by Houston partners Tim Fenn and Jim Cole, with associate Dominick Constantino; on oil and gas related matters by Houston partner Mike King, with associates Joseph Kmetz and Corynn Wilson; on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associate Jacqueline Zhang; on intellectual property matters by Bay Area partner Michelle Gross, with associate Zachary Shufro; and on insurance matters by Los Angeles partner Drew Levin, with associate Harrison White.