Kirkland Counsels Northern on $406.5 Million Permian Basin Expansion
Kirkland & Ellis counseled Northern Oil and Gas, Inc. (NYSE American: NOG) on its agreement to acquire substantially all of the non-operated Permian Basin assets owned by certain entities affiliated with Veritas Energy, LLC. Northern will acquire non-operated oil and gas properties in the Delaware and Midland Basins for a cash purchase price of $406.5 million and 1.9 million common equity warrants with an exercise price of $28.30 per share, subject to typical closing adjustments. The assets are primarily in Lea and Eddy counties, New Mexico, and Loving, Reeves, Ward and Winkler counties, Texas.
The Kirkland team was led corporate partners David Castro Jr. and Rahul Vashi and associates Will Eiland, Matt Gibson, Clayton Hart, Jonathan Strom and Braxton Smith; tax partner Mark Dundon; capital markets partners Matt Pacey and Bryan Flannery and associate Ieuan Adrian List; debt finance partners Will Bos and Mary Kogut and associate Laura Bielinski; and environmental transactions partner Jon Kidwell and of counsel Jennifer Cornejo.
