News Releases

Baker Botts Represents Naphtha Israel Petroleum Corporation Ltd. in Acquisition and Going Private Transaction of Isramco, Inc. 


Deal Description: May 20, 2019 – Naphtha Israel Petroleum Corporation Ltd. (NFTA-IL: Tel Aviv Stock Exchange) (“Naphtha”) has agreed to acquire all of the outstanding publicly held common stock of Isramco, Inc. (NASDAQ CM: ISRL) (“Isramco”), an oil and gas company with offshore operations in Israel and onshore operations in the United States. The consideration will consist of $121.40 in cash for each share of Isramco common stock.  Naphtha and its affiliates beneficially own approximately 73.0% of the outstanding Isramco common stock. The transaction is subject to shareholder approval from Isramco and customary closing conditions and regulatory approvals. If completed, the merger will result in Isramco becoming a privately held company and Isramco’s common stock would no longer be listed on the NASDAQ Capital Market.

Baker Botts L.L.P. represented Naphtha in the transaction.

Outside Counsel to Naphtha: Baker Botts L.L.P. 

Outside Counsel to Isramco’s Special Committee: Norton Rose Fulbright US LLP 

Financial Advisor to Isramco’s Special Committee: Duff & Phelps, LLC

Baker Botts Lawyers/Office Involved:

Corporate: A.J. Ericksen (Partner, Houston); Stephen Noh (Associate, Houston); Ieuan List (Associate, Houston); Parker Hinman (Associate, Houston).

Tax: Ron Scharnberg (Partner, Houston); Peter Farrell (Associate, Washington).

Environmental: Scott Janoe (Partner, Houston); Harrison Reback (Associate, Houston).

Employee Benefits: Mark Bodron (Partner, Houston); Marian Fielding (Associate, Dallas).

Oil & Gas: Craig Vogelsang (Partner, Houston).

For more information, please see Isramco’s and Naphtha’s news release.

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit

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