Kirkland Advises Pickering Energy Partners on Midland Basin Investment

Kirkland & Ellis counseled Pickering Energy Partners in its partnership with a private operator in the Midland Basin to jointly develop oil and gas wells, and the closing of an equity co-investment in the partnership. This partnership is part of Pickering’s strategy to acquire high-quality acreage at attractive valuations alongside excellent local operators. This deal represents a prime example of what Pickering defines as a “Fat Pitch” opportunity, characterized generally as attractive special situations with asymmetric risk profiles.

The Kirkland team was led by corporate partners Rahul Vashi and R.J. Malenfant and associates Patrick Lingwall and Matt Gibson; and included corporate partners Shubi Arora and Jhett Nelson and associates Randy Santa Ana and Benjamin Rowe; tax partner Mark Dundon; and investment funds partners Matt Nadworny and Ian Jelsma.