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.