Kirkland & Ellis advised Callon Petroleum Company (NYSE: CPE) in its $3.2 billion acquisition of Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) in an all-stock transaction, including Carrizo’s net debt and preferred securities. The definitive transaction agreement was unanimously approved by each company’s board of directors. The strategic combination will create a leading oil and gas company across a portfolio of core oil-weighted assets in both the Permian Basin and Eagle Ford Shale. Upon closing, Callon and Carrizo stockholders will own approximately 54 percent and 46 percent, respectively, of the outstanding shares of the combined entity.
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The Kirkland team was led by transactional partners Sean Wheeler, Doug Bacon, Anthony Speier, Alex Rose and Lanchi Huynh and associates Jennifer Rainey Singh, Lindsey Jaquillard, Camille Walker, Zach Savrick, Meghan Dupre, Cameron McCollum, Zack Montgomery and Eilidh Reid; tax partner David Wheat and associate William Dong; debt finance partners Mary Kogut Brawley and Will Bos and associates Brandon Elliot, Jordan Roberts and Mahalia Burford; executive compensation partner Scott Price and associates Laura Gallo and Annemarie Mierzejewski; capital markets associates Terry Bokosha and Trevor Crowley; antitrust partners Ian John, Carla Hine and Christina Shin and associate Evan Turnage; government & internal investigations partners Asheesh Goel and Nick Niles; environmental transactions partner Paul Tanaka and associate James Dolphin; employee benefits partner Alexandra Mihalas and associate Adria Crowe; and labor and employment partner Michael Schulman.