Kirkland Advises Permian Resources on Strategic Bolt-On Acquisition of Core Delaware Basin Assets

Kirkland & Ellis advised Permian Resources Corporation (NYSE: PR) on a definitive agreement with Occidental (NYSE: OXY) to purchase ~29,500 net acres, ~9,900 net royalty acres and ~15,000 Boe/d predominantly located directly offset Permian Resources’ existing position in Reeves County, Texas for $817.5 million, subject to customary post-closing adjustments. The effective date of the transaction is July 1, 2024, with closing expected to occur by the end of the third quarter of 2024.

Read Permian Resources’ press release

The Kirkland team was led by corporate partners Chad Smith and Will Eiland and associates Luke Strother and Lyle Paul; tax partners David Wheat and Joe Tobias and associate Brooke Schafer; and environmental transactions partner Paul Tanaka and associate Max Anderson.