Kirkland Counsels Undisclosed Global Investment Fund in $200 Million Development Agreement with SandRidge Energy

Kirkland & Ellis LLP advised an undisclosed global investment fund in its agreement with SandRidge Energy (NYSE:SD) to provide $100 million to drill wells targeting the Meramec formation, with an option for a second $100 million tranche (subject to mutual agreement). The fund will pay 90 percent of the drilling costs and receive an 80 percent working interest in each wellbore. The full release is available here.

The Kirkland team was led by corporate partner David Castro and associate Barrett Schitka; and included tax partner Chad McCormick and associate Joe Tobias; debt finance partner Lucas Spivey and associate Alex Cross; and environmental transactions partners Paul Tanaka and Stefanie Gitler and associate James Dolphin.