Kirkland Advises Wing Resources on Sale of Midland Basin Oil and Gas Mineral Interests

Kirkland & Ellis advised Wing Resources LLC and Wing Resources II LLC (collectively, Wing), portfolio companies of Natural Gas Partners, on the sale of their respective Midland Basin oil and gas mineral interests, representing 9,000 net royalty acres in the Midland Basin with exposure to more than 400,000 gross acres, to Alliance Resource Partners L.P. (NASDAQ: ARLP) for a cash purchase price of $145 million, subject to customary adjustments. The agreement provides for an effective date of May 1, 2019, and the transaction is expected to close in early August 2019.

The Kirkland team was led by transactional partner Thomas Laughlin and transactional associate Alex Poor, with assistance from transactional associates R.J. Malenfant and Steven Taylor; tax partner David Wheat; and environmental transactions partner Jonathan Kidwell.