Press Release

Kirkland Advises Diversified on Acquisition of Tapstone Energy and Related Assets

Kirkland & Ellis counseled Diversified Energy Company PLC (LSE: DEC) on its conditional agreements to acquire certain upstream assets, field infrastructure, equipment and facilities within the company's Central Region from Tapstone Energy Holdings, LLC and its related party KL CHK SPV, LLC. Under the previously announced Participation Agreement, funds managed by Oaktree Capital Management, L.P. will make a non-operated working interest investment in the acquisition. Total gross consideration, inclusive of Oaktree's investment, is $419 million (approximately $366 million net of customary purchase adjustments to the Aug. 1, 2021 effective date). 

The Kirkland team worked hand-in-hand with Diversified’s General Counsel, Ben Sullivan, and Associate General Counsel, Michelle Matthews, to execute on this transaction.

Read Diversified’s press release

The Kirkland team was led by corporate partners John Kaercher and Anthony Speier and associates Jordan Silverman, Will Eiland and Zach Scott; tax partners David Wheat and Steve Butler; and executive compensation partner Rob Fowler.