Press Release

Kirkland Advises Freehold on $180M Purchase of U.S. Royalty Assets in the Eagle Ford Oil Basin

Kirkland & Ellis counseled Freehold Royalties Ltd. (FRHLF) (TSX: FRU) on its definitive agreement with a private seller to acquire high-quality U.S. royalty assets located in the Eagle Ford oil basin in Texas for US$180 million (CAD$227 million). The acquired assets significantly enhance the quality of Freehold's North American royalty portfolio, improving both the near-term and long-term sustainability of Freehold's dividend while providing further option value to return capital to our shareholders through multiple years of free cash flow growth. The U.S. Royalty Transaction further advances Freehold's strategy of being positioned in the highest quality development areas across North America, delivering growth and low risk attractive returns to our shareholders. 

Read Freehold’s press release

The Kirkland team was led by corporate partner Rahul Vashi and associates Jordan Silverman and Skyler Sikes; tax partner Mark Dundon; and environmental transactions partner Paul Tanaka and of counsel Jenn Cornejo.