Kirkland & Ellis counseled Maverick Natural Resources, LLC on its definitive agreement to acquire certain producing properties in the Permian basin from ConocoPhillips for a purchase price of $440 million, subject to customary adjustments. The assets to be acquired produced over 11,000 boepd (50 percent oil) from the Central Basin Platform and Northwest Shelf of the Permian Basin during September of 2021. The position spans approximately 144,500 net acres across Andrews (TX), Ector (TX), Eddy (NM) and Lea (NM) counties and is largely operated and held by production. The acquisition will be funded by a fully committed $500 million Reserve Based Loan. Subject to the satisfaction of customary closing conditions and funding, the parties expect the transaction to close in the second quarter of 2022.
The Kirkland team was led by corporate partner Chris Heasley and associate Alia Heintz, Braxton Smith and Zach Scott; and debt finance partners Mary Kogut and Arthur Lotz and debt finance associates Laura Bielinski and Brittany Taylor.
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.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
The advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
