Kirkland & Ellis LLP counseled Evercore, which served as financial advisor to two privately held companies managed by Kimmeridge Energy Management Co. that agreed to be acquired by PDC Energy, Inc. (Nasdaq: PDCE) for approximately $1.5 billion, subject to due diligence and certain customary closing conditions. The privately negotiated transaction includes approximately 57,000 net acres in Reeves and Culberson Counties, Texas with an average working interest of approximately 93 percent. The transaction is expected to close in the fourth quarter of 2016. The full release can be found here.
The Kirkland team was led by corporate partner John Pitts and associate Rahul Vashi and investment funds partner Matthew Nadworny.