Kirkland & Ellis represented KKR in connection with Spur Energy Partners LLC’s definitive agreement to acquire assets in the New Mexico Shelf from Concho Resources Inc. (NYSE: CXO). Earlier this year, Kirkland advised KKR in the formation of a partnership with Spur to acquire large, high-margin oil and gas production and development assets across the Lower 48. This subsequent acquisition from Concho includes approximately 100,000 gross acres. Current production from Concho’s Shelf assets is approximately 25 thousand barrels of oil equivalent per day.
The Kirkland team was led by transactional partners John Pitts, Kyle Watson, David Castro Jr. and Chris Heasley, and associates Ben Hardison and William Eiland.