Kirkland & Ellis represented Benchmark Energy (Benchmark), a subsidiary of Acacia Research Corp. (Nasdaq: ACTG) and McArron Partners, in obtaining a new $150 million secured revolving credit facility from Frost Bank, along with a syndicate of other Texas-based regional banks. The new credit facility refinances existing indebtedness, supports ongoing working capital needs, and helped Benchmark to complete a significant acquisition of certain upstream assets and related facilities within the Western Anadarko Basin. The transactions position Benchmark for further plays within a diversified production base in Texas and Oklahoma.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.
