Kirkland Advises Mach Natural Resources on Agreement to Acquire Oil and Gas Assets from Sabinal Energy
Kirkland & Ellis advised Mach Natural Resources on a definitive agreement to acquire certain oil and gas assets from Sabinal Energy, LLC for an unadjusted purchase price of $500 million, subject to customary terms, conditions and closing adjustments. Mach expects to fund the transaction with Sabinal with $300 million of equity consideration in the form of Mach common units, with the balance to be funded through a combination of cash on hand and borrowings under its Revolving Credit Facility. The acquired Sabinal assets include approximately 130,000 net acres.
The Kirkland team included real asset M&A lawyers Chris Heasley, Lindsey Jaquillard, Jarrod Gamble, Alex Lippert, Patrick Lingwall, Curtis French and Rachel Miller; capital markets lawyers Julian Seiguer, Michael Rigdon, Erin Meziere and Robbie Dillard; tax lawyers Mark Dundon, David Gilbert and Jonathan Diener; and environmental transactions lawyers Jim Dolphin and Courtney Tibbetts.
