Kirkland & Ellis counseled Penn Virginia Corporation (NASDAQ:PVAC) on its strategic transaction with Juniper Capital Advisors, L.P. to improve Penn Virginia’s balance sheet and liquidity position, extend its second-lien term loan maturity and increase its cash flow and drilling inventory with complementary bolt-on assets.  At closing, Juniper will make an investment in Penn Virginia valued at approximately $188.4 million, consisting of $150 million of cash and certain oil and gas assets in exchange for 59 percent of Penn Virginia’s equity.

Read Penn Virginia’s press release

The Kirkland team was led by transactional partners Sean Wheeler, Debbie Yee and Melissa Kalka; and included tax partners David Wheat and William Dong; transactional partners Anthony Speier and Chad Smith and associate Will Eiland; executive compensation partner Stephen Jacobson; and capital markets partner Julian Seiguer and associate Ieuan List.