Kirkland & Ellis advised Devon Energy (NYSE: DVN) on its definitive purchase agreement to acquire the Williston Basin business of Grayson Mill Energy in a transaction valued at $5 billion, consisting of $3.25 billion of cash and $1.75 billion of stock to the sellers. The transaction is subject to customary terms and conditions, including various purchase price adjustments, and is expected to close by the end of the third quarter of 2024, with an effective date of June 1, 2024.

The Kirkland team was led by corporate partners David Castro Jr., Lindsey Jaquillard and Kyle Watson and associates Jarrod Gamble, Rizwan Popatia and Carli Gish.