Kirkland Advises Northern Oil and Gas, Inc. on Investment in Core Midland Basin Development Project
Kirkland & Ellis advised Northern Oil and Gas, Inc. (NOG) on a definitive agreement to acquire a 36.7% working interest in oil and gas leases and wells and associated midstream assets and infrastructure in Midland County, Texas, from Midland-Petro D.C. Partners, LLC for a purchase price of $330 million in cash, subject to typical closing adjustments, and the entry into a development program for the drilling of new wells. NOG expects to fund the acquisition with cash on hand, operating free cash flow and borrowings from NOG’s revolving credit facility.
The Kirkland team was led by corporate partners David Castro Jr., Rahul Vashi and Alia Heintz and associates Lauren Stelck and Rizwan Popatia.
