With a notable decrease in deal activity this year, significant oil transactions are still creating opportunities for Am Law 100 firms. Industry insiders anticipate further energy industry consolidation in the near future. A recent example is Chevron’s $53 billion acquisition of Hess Corporation, with representative legal services provided by Paul, Weiss, Rifkind, Wharton & Garrison for Chevron, and Wachtell, Lipton, Rosen & Katz representing Hess.
Luis Gomar, a partner at Paul Hastings, has commented on the industry trends, noting “There may not be many mega-deals left, but we are likely to continue seeing consolidation in the industry.” As such, legal firms dealing with M&A practices may still find ample opportunities within the energy sector.