Press Release

Kirkland Advises Ensign and Warburg on Acquisition of Eagle Ford Acreage

Kirkland & Ellis counseled Ensign Natural Resources LLC, an exploration and production company focused on acquiring, developing and producing U.S. unconventional resources, on the purchase of all of Pioneer Natural Resources USA, Inc.’s Eagle Ford acreage in South Texas. The transaction includes approximately 59,000 net acres in Bee, DeWitt, Karnes, Lavaca and Live Oak Counties and current net production of approximately 14,400 barrels of oil equivalent per day. Ensign was formed in late 2017 in partnership with Warburg Pincus, a private equity firm focused on growth investing. As part of this transaction, Ensign has also secured an equity commitment from the Kayne Private Energy Income Funds, an investment platform dedicated to partnering with high caliber management teams to acquire and develop large producing oil and gas assets in North America. Kirkland is also counseling Warburg on its investment in Ensign.

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The Kirkland team was led by transactional partners Adam Larson, Anthony Speier, Kim Hicks and Chris Heasley, and debt finance partners Jason Kanner and Will Bos.