Brunswick Group is advising Rosetta Resources in its $2.1B merger into Noble Energy, a deal some say could rejuvenate the shale oil market amid a plunge in oil prices.
The all-stock deal between the publicly traded companies includes assumption of $1.8B of Rosetta's debt. Both companies are based in Houston.
For Noble, it acquires Rosetta's 66,000- barrel-per-day production (Q1) from its operations in the Eagle Ford Shale in Texas and Permian in Texas and New Mexico.
Noble is centered on the DJ Basin in Colorado and the Marcellus Shale in the eastern US with some operations offshore in Israel and in Africa.
The Wall Street Journal reported that the Noble-Rosetta deal could aid a rebound in oil prices and, at a minimum, shows the resiliency of the exploration-and-production sector.
Reuters sees the transaction as a potential precedent to clear a path for similar deals after talks between buyers and sellers in the sector stalled for months.
Noble Energy handled the M&A PR in-house. Ben Dillon is VP of communications and government relations.
Brunswick's Texas outpost counsels Rosetta. Mark Palmer, partner and Dallas office head, and Ash Spiegelberg, director, handle the account.
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