R.J. Malenfant

Kirkland & Ellis advised Civitas Resources (NYSE: CIVI) on two definitive agreements to acquire oil producing assets in the Midland and Delaware Basins of west Texas and New Mexico. The agreements were signed with affiliates of Hibernia Energy III, LLC and Tap Rock Resources, LLC, which are respective portfolio companies of funds managed by NGP Energy Capital Management, L.L.C., for total consideration of approximately $4.7 billion, subject to customary purchase price adjustments. Both transactions are subject to customary terms and conditions and are expected to close in the third quarter of 2023 with effective dates of July 1, 2023. Read Civitas Resources’ press release The Kirkland team advising on the Hibernia transaction was led by corporate and real assets partners Thomas Laughlin, Lindsey Jaquillard, Josh Teahen and Alia Heintz and associates Jack Chadderdon, Matt Gibson and Braxton Smith; capital markets partners Julian Seiguer, Bryan Flannery and Anthony Sanderson; debt finance partners Will Bos and Shan Khan; and tax partners Mark Dundon and Ryan Phelps; with support from corporate partner Doug Bacon; and real assets partner Anthony Speier. The Kirkland team advising on the Tap Rock transaction was led by corporate and real assets partners Thomas Laughlin, Allan Kirk, R.J. Malenfant and Randy Santa Ana and associates Caleb Martin, Skyler Sikes and Rizwan Popatia; capital markets partners Julian Seiguer, Bryan Flannery and Anthony Sanderson; debt finance partners Will Bos and Shan Khan; and tax partners Mark Dundon and Ryan Phelps; with support from corporate partners Doug Bacon and Josh Teahen; and real assets partners Lindsey Jaquillard and Anthony Speier.

Jun 20

1 min

Kirkland & Ellis advised Beacon Offshore Energy LLC on the divestment of its non-operated interests in certain fields in the deepwater Gulf of Mexico in accordance with a previously executed definitive agreement with GOM 1 Holdings Inc., an affiliate of O.G. Oil & Gas Limited. The divestment includes Beacon’s 18.7% interest in the Buckskin producing field, 17% interest in the Leon development, 16.15% interest in the Castile development, 0.5% interest in the Salamanca FPS/lateral infrastructure and 32.83% interest in the Sicily discovery. Read Beacon Offshore’s press release The Kirkland team was led by corporate partners R.J. Malenfant, Chad Smith, Rhett Van Syoc, Jonathan Strom and Daniel Cadis; debt finance partner Andy Veit and associate Brittany Taylor; tax partners Mark Dundon and Joe Tobias; and environmental partner Jonathan Kidwell and associate Alex Noll.

Mar 29

1 min

Kirkland & Ellis advised Riley Exploration Permian, Inc. (Riley Permian) on its definitive agreement with Conduit Power, LLC to expand the scope of their joint venture, RPC Power, LLC, to build new power generation and storage assets for the sale of energy and ancillary services to ERCOT, the Texas power grid operator. Read Riley Permian’s press release The Kirkland team was led by corporate partners R.J. Malenfant, Shubi Arora and Patrick Moneypenny and associate Mitch Holliman; and included energy regulatory partner Brooksany Barrowes.

May 22

1 min

Kirkland & Ellis counseled Ovintiv Inc. (NYSE: OVV) (TSX: OVV) on its definitive purchase agreement to acquire substantially all leasehold interest and related assets of Black Swan Oil & Gas, PetroLegacy Energy and Piedra Resources (NMB sellers), which are portfolio companies of funds managed by EnCap Investments L.P., in a cash and stock transaction valued at approximately $4.275 billion. Upon closing, the acquisition will add approximately 1,050 net 10,000 foot well locations to Ovintiv's Permian inventory and approximately 65,000 net acres in the core of the Midland Basin, strategically in close proximity to Ovintiv's current Permian operations. Ovintiv also reached an agreement to divest the entirety of its Bakken assets for approximately $825 million. Read Ovintiv’s press release The Kirkland team was led by corporate partners David Castro, Rahul Vashi, Lindsey Jaquillard, and Kyle Watson and associates Gabrielle Sumich and Isaac Bate; and tax partners Mark Dundon and Ryan Phelps. On the Bakken sale and disposition, the Kirkland team was led by corporate partners David Castro, Rahul Vashi and R.J. Malenfant and associate Jarrod Gamble.

Apr 3

1 min

Kirkland & Ellis advised Apex Energy II, LLC, a portfolio company of funds managed by Carnelian Energy Capital Management, L.P., on its definitive agreement to sell its natural gas upstream and associated midstream business in the Appalachian Basin to CNX Resources Corporation (NYSE: CNX) for total cash consideration of approximately $505 million, subject to certain adjustments including an effective date of October 1, 2024. Completion of the transaction, which is subject to the satisfaction of customary closing conditions, is expected to occur in the first quarter of 2025. Read the transaction press release The Kirkland team included real asset transactions lawyers David Castro Jr., R.J. Malenfant, Luke Strother, Lyle Paul and Jake Johnson; corporate lawyers Zach Savrick, John Pitts and Colleen Haile; debt finance lawyers Mary Kogut and Michelle Williamson; capital markets lawyer Billy Vranish; tax lawyers David Wheat and Rebecca Leigh Fine; environmental transactions lawyers Paul Tanaka, Jim Dolphin and Max Anderson; employment & labor lawyer Christie Alcala; employee benefits lawyer Justin Codington; executive compensation lawyer Stephen Jacobson; antitrust & competition lawyer Chuck Boyars; and derivatives lawyers Brett Ackerman and Drue Santora.

Dec 5

1 min