Sidley represented New Height Energy, LLC, a privately held oil and gas company focused on acquiring and improving assets, in connection with the financing for its acquisition of producing oil and gas assets in the Midland Basin. As part of the transaction, Sidley advised New Height Energy on a four-year senior secured reserve-based revolving credit facility with Texas Capital Bank as administrative agent and a syndicate of lenders, which provides for maximum commitments of US$300 million. Sidley also advised New Height Energy on securing equity commitments from current owners and a consortium of family offices led by United Beren Energy.
New Height Energy’s pro forma net production after giving effect to the acquisition is expected to exceed 5,000 barrels of oil equivalent per day, marking a transformative milestone in the company’s growth trajectory.
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