Kirkland & Ellis LLP counseled Vine Oil & Gas LP (Vine) on its agreement with GEP Haynesville, LLC (GEP) to exchange non-operated working interests in the majority of Vine and GEP’s joint venture assets in Red River, DeSoto and Sabine parishes in Northwest Louisiana (the Exchange). The Exchange unwinds a material portion of the joint venture area of mutual interest and allocates to each party the entirety of the future development. Vine and GEP will continue to share joint ownership in approximately 50 producing wells that were brought online in 2015 and 2016, and which were excluded from the Exchange. The full release is available here.
The Kirkland team was led by corporate partner Bill Benitez and associate Kyle Watson; and included corporate partner Anthony Speier and associates David Moore, Tim Vaughan and RJ Malenfant; and tax partner Chad McCormick and associate Tim Campany.