Matt Gibson

Kirkland & Ellis advised Franklin Mountain Energy and Avant Natural Resources on two separate definitive agreements with Coterra Energy Inc. (NYSE: CTRA) to acquire certain assets of Franklin Mountain Energy and Avant Natural Resources and its managed funds, for an aggregate consideration of $3.95 billion, consisting of $2.95 billion of cash and $1 billion of Coterra stock to one of the sellers, subject to certain purchase price adjustments. The transactions are each subject to customary terms and conditions and are expected to close during the first quarter of 2025, with effective dates of October 1, 2024. Read Coterra’s press release For Franklin Mountain Energy, the Kirkland team included real asset lawyers Chris Heasley and Will Eiland, and corporate lawyer John Kaercher; and also real asset lawyers Luke Strother, Matt Gibson, Mitch Holliman, Trent Tucker and Jake Johnson; transactional liability insurance lawyer Hayley Hollander; capital markets lawyer Michael Rigdon; debt finance lawyer Jordan Roberts; tax lawyer David Wheat; and antitrust & competition lawyer Chuck Boyars. For Avant, the Kirkland team included corporate lawyer John Kaercher; real asset lawyers Chris Heasley and Albert Jou; corporate lawyer Paul Milani; tax lawyers David Wheat and Rebecca Fine; environmental transactions lawyers Jonathan Kidwell and Courtney Tibbetts; antitrust & competition lawyers Chuck Boyars, Sarah Lonvick and Miguel Suarez Medina; transactional liability insurance lawyer Hayley Hollander; and employment & labor lawyer Christie Alcala.

Nov 13

1 min

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 Civitas Resources (NYSE: CIVI) on an agreement with Vencer Energy, a Vitol investment, to acquire oil producing assets in the Midland Basin of west Texas for a total consideration of approximately $2.1 billion, subject to customary terms, conditions, and closing price adjustments. The acquisition is expected to close in January 2024 with an effective date of January 1, 2024. Read the Civitas press release here The Kirkland team was led by corporate partners Thomas Laughlin and Lindsey Jaquillard and associate Matt Gibson; debt finance partners Will Bos and Shan Khan; capital markets partners Julian Seiguer, Bryan Flannery and Ieuan List; and tax partners Mark Dundon and Ryan Phelps.

Oct 4

1 min

Kirkland & Ellis advised Northern Oil and Gas, Inc. (NOG) on a definitive agreement to acquire certain non-operated interests in the Delaware Basin from a private seller for a purchase price of $130.0 million in cash, subject to typical closing adjustments. The acquired assets are located in Lea and Eddy Counties, New Mexico and Loving and Winkler Counties, Texas, and include approximately 2,100 net acres, 5.3 net producing wells, 2.1 net wells-in-process and approximately 17.2 net undeveloped locations. Read NOG’s press release The Kirkland team was led by corporate partners David Castro Jr., Rahul Vashi and Fraser Wayne and associates Matt Gibson and Clayton Hart.

Oct 11

1 min

Kirkland & Ellis counseled Delaware Basin Resources on its sale to Vitol’s U.S. upstream company, VTX Energy Partners, LLC, for an undisclosed sum. The assets comprise of 35K net leasehold acres and 46K surface acres across Reeves and Pecos counties in the Delaware Basin, with current daily production of approximately 40 mboepd. Read Vitol’s press release The Kirkland team was led by corporate partners John Pitts and Zach Savrick and associates Mike Bassi, Matt Gibson and Haley Steinman; and real assets partners Rahul Vashi, David Castro and Alia Heintz.

Jan 20

1 min