Kirkland Counsels Warburg Pincus on $2.43 Billion Sale of Brigham to Diamondback Energy

Kirkland & Ellis LLP advised Warburg Pincus LLC on the sale by its portfolio company, Brigham Resources LLC, of Permian Basin leasehold interests and related assets to Diamondback Energy, Inc. (NASDAQ:FANG) for an aggregate purchase price of $2.43 billion, consisting of $1.62 billion in cash and 7.69 million shares of Diamondback common stock, subject to certain adjustments. Upon completion, the pending acquisition will provide Diamondback with primarily operated leasehold interests on 76,319 net acres located in Pecos and Reeves counties, Texas and will bring Diamondback’s total leasehold interests to approximately 182,000 net surface acres in the Permian Basin. The full release is available here.

The Kirkland team was led by capital markets partner Matt Pacey; corporate partner Adam Larson; and tax partner David Grenker.