Press Release

Kirkland Counsels Buyer of Gastar Exploration’s Certain Leasehold Interests

Kirkland & Ellis LLP represented with Porter Hedges an undisclosed buyer in connection with a purchase and sale agreement for Gastar Exploration Inc.’s (NYSE MKT: GST) of certain leasehold interests primarily in northeast Canadian County and also in southeast Kingfisher County, Oklahoma for approximately $71 million (of which up to $10 million is contingent upon the satisfaction of certain conditions), subject to certain adjustments.  The transaction is expected to close on or before Nov. 18, 2016, with a property sale effective date of Aug. 1, 2016. The full release is here.
The Kirkland team was led by corporate partners Anthony Speier and Adam Larson; debt finance partner Lucas Spivey; and corporate associate Lindsey Jaquillard.
Kirkland announced Thursday that it represents a large private global investment fund (Investor) in connection with its drilling participation arrangement with Gastar Exploration, where the Investor agrees to jointly develop up to 60 Gastar-operated wells in the STACK play in Kingfisher County, Oklahoma. The release is available here.