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.