HOUSTON, January 2, 2013 -- Porter Hedges represented Par Petroleum Corporation (”Par Petroleum” ) in its acquisition of SEACOR Energy, Inc. (“SEI”), an indirect wholly-owned subsidiary of SEACOR Holdings Inc., for a cash purchase price of approximately $14.0 million plus estimated net working capital of approximately $4.0 million at closing. Following the acquisition, SEI, which is headquartered in Houston, Texas, was renamed Texadian Energy, Inc. (“Texadian”).
According to Par Petroleum, the Texadian’s transportation and trading business is a significant first step in the growth and expansion of the company’s business plan.
Par Petroleum is a Houston-based company that manages and maintains interests in a variety of energy-related assets, including natural gas assets located in the Piceance Basin. SEI is a transportation, distribution and trading company that is focused in the crude oil arena.
The Porter Hedges team was led by James Cowen, Matt Vaughn and Joyce Soliman with assistance from Adam Nalley, Beverly Young, Ragna Henrichs, Matt Lea, Mac Marshall, Jessica Gonzalez, and Jim Castro.
For additional information, see the Par Petroleum press release here.