Kirkland Advises IOG Resources II on Decision to Acquire Non-Operated Assets in Appalachia

Kirkland & Ellis counseled IOG Resources II, LLC on the signing of definitive documentation to acquire non-operated oil & gas assets in Appalachia. The assets include 66 producing wellbores and 7,000 net acres primarily located in Carroll County, Ohio and Butler County, Pennsylvania with current net production of approximately 25 mmcfe/d and a substantial liquids component. The acquisition represents the second investment for IOGR II. Following the transaction, the IOG Resources platform will have completed 14 discrete investments across six core basins in the United States. The transaction is expected to close during the second quarter of 2023 subject to satisfaction of customary closing conditions.

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The Kirkland team was led by corporate partners Rahul Vashi and R.J. Malenfant and associates Skyler Sikes and Braxton Smith; tax partners Mark Dundon and Joe Tobias; and environmental transactions partners Paul Tanaka and Jennifer Cornejo.