Chad M. Smith, Will Eiland, Mohammad Alkadhem, Dakota Priest, David Wheat, David Gilbert, Brooke Schafer, Jon Kidwell, Alyssa Huang, Chuck Boyars, Rebekah Scherr, Damien Lyster, Lilla Grisham
January 24, 2026
Kirkland Advises Permian on Divesture of Gathering Systems to Kinetik for $180 Million
1 min
AI-made summary
- Permian Resources Corporation has entered into a definitive agreement to sell its natural gas and oil gathering systems in Reeves County, Texas, to Kinetik Holdings Inc
- for $180 million in cash, subject to customary post-closing adjustments
- The assets include both recently acquired and legacy midstream infrastructure, excluding water infrastructure and surface acreage
- Kirkland & Ellis advised Permian Resources on the transaction, with a team comprising corporate, tax, environmental, antitrust, and energy regulatory lawyers.
Kirkland & Ellis counseled Permian Resources Corporation (NYSE: PR) on entering into a definitive agreement to sell natural gas and oil gathering systems located primarily in Reeves County, Texas to Kinetik Holdings Inc. (NYSE: KNTK) for a total cash consideration of $180 million, subject to customary post-closing adjustments. The divested natural gas and oil pipeline systems include a combination of both recently purchased and legacy company-owned midstream infrastructure and exclude any water infrastructure or surface acreage. Read Permian’s press release The Kirkland team included corporate lawyers Chad M. Smith, Will Eiland, Mohammad Alkadhem and Dakota Priest; tax lawyers David Wheat, David Gilbert and Brooke Schafer; environmental transactions lawyers Jon Kidwell and Alyssa Huang; antitrust & competition lawyers Chuck Boyars and Rebekah Scherr; and energy regulatory lawyers Damien Lyster and Lilla Grisham.
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Chad M. Smith, Will Eiland, Mohammad Alkadhem, Dakota Priest, David Wheat, David Gilbert, Brooke Schafer, Jon Kidwell, Alyssa Huang, Chuck Boyars, Rebekah Scherr, Damien Lyster, Lilla Grisham
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