Chad Smith, Will Eiland, Luke Strother, Lyle Paul, David Wheat, Joe Tobias, Brooke Schafer, Paul Tanaka, Max Anderson
January 24, 2026
Kirkland Advises Permian Resources on Strategic Bolt-On Acquisition of Core Delaware Basin Assets
1 min
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- Kirkland & Ellis represented Permian Resources Corporation in a definitive agreement with Occidental to acquire approximately 29,500 net acres, 9,900 net royalty acres, and 15,000 barrels of oil equivalent per day, primarily in Reeves County, Texas, for $817.5 million, subject to customary post-closing adjustments
- The transaction's effective date is July 1, 2024, with closing anticipated by the end of the third quarter of 2024.
Kirkland & Ellis advised Permian Resources Corporation (NYSE: PR) on a definitive agreement with Occidental (NYSE: OXY) to purchase ~29,500 net acres, ~9,900 net royalty acres and ~15,000 Boe/d predominantly located directly offset Permian Resources’ existing position in Reeves County, Texas for $817.5 million, subject to customary post-closing adjustments. The effective date of the transaction is July 1, 2024, with closing expected to occur by the end of the third quarter of 2024. Read Permian Resources’ press release The Kirkland team was led by corporate partners Chad Smith and Will Eiland and associates Luke Strother and Lyle Paul; tax partners David Wheat and Joe Tobias and associate Brooke Schafer; and environmental transactions partner Paul Tanaka and associate Max Anderson.
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Chad Smith, Will Eiland, Luke Strother, Lyle Paul, David Wheat, Joe Tobias, Brooke Schafer, Paul Tanaka, Max Anderson
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