Staubach says it sourced the necessary funds and structured the 20-year leaseback. Staubach Financial Services president Brant Bryan says the work for its corporate client Phillips required the transaction have a certain tax treatment and be funded within 30 days.
The Staubach Company's investment affiliate, Wolverine Equities, provided the equity for the transaction. Staubach says it coordinated the debt financing using five separate institutions.
Bartlesville, OK-based Phillips Petroleum is one of the largest integrated oil companies in the United States, with $20.6 billion in assets and 12,400 employees in 20 countries. Phillips nearly doubled its proved reserves to 4.1 billion barrels of oil equivalent by acquiring ARCO's Alaska properties.
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