Kirkland Advises EnCap Investments on Largest Capital Raise for Upstream Energy Continuation Vehicle
Kirkland & Ellis advised EnCap Investments L.P. on the successful close of a continuation vehicle for EnCap Minerals, LLC and Rock River Minerals, LP, with aggregate capital commitments of approximately $3.5 billion. Managed by EnCap, the continuation vehicle is anchored by funds affiliated with MCP Management, L.P. The company’s portfolio was built through partnerships with Fortis Minerals, OGX Resources, Piedra Energy III and Pegasus Resources, which continues to manage the assets today. This transaction marks the largest upstream energy continuation vehicle transaction ever to close. The combined company owns approximately 134,000 net royalty acres of mineral and royalty interests in the core of the Permian Basin and generates net production of approximately 37,000 barrels of oil equivalent per day.
Read the transaction press release
The Kirkland team included corporate lawyers and investment funds lawyers Stephen Noh, Jess Lepper, Matthew Nadworny, Mark Boyagi, Nathan Wolcott, Patrick Vinett, Michael Marek, Guillemette Chamayou, Andrew Silvia, Bryon James Boyce, Megan Smit, Drew Clements, Cade Luedde, Lauren Lovett, Jerome Fuller, Jacob Wirz, Brandon Barrett, Chris Marano, Marvin Galloway, Arie Van Wijngaarden, Mackenzie Caldwell, Rachel Mejias-Thompson, Ivey Eugene, Lauren Bingham, Matt Bartnovsky, Miles Brinkley, Kate Hughes, Maria Knasel and Sean Smooke; investment funds regulatory lawyers Nabil Sabki, John Reinert and Austin Eiland; tax lawyers Stephen Butler, Grant Michael Newman and Scott La Rochelle; investment funds ERISA lawyer Sabrina Glaser; debt finance lawyers William Bos and Daly Brower; real asset lawyers William Eiland and Nicole Faria; executive compensation lawyers Stephen Jacobson and Jabir Yusoff; employment & labor lawyer Christie Alcala; employee benefits lawyer Maureen O’Brien; technology & IP transactions lawyers Seth Traxler and Matt Darch; environmental transactions lawyers Paul Tanaka and James Dolphin; international trade & national security lawyers Luci Hague and Evan Sills; antitrust & competition lawyer Michael Thorpe; and restructuring lawyers John Ryan, Tysan Holloman, Kevin O’Donnell, Nicholas Lazzaro, Keion Rasti and James Ziemba.
