© 2014 The Texas Lawbook.
By Natalie Posgate – (October 30) – Global investment firm KKR announced that it has invested a non-disclosed amount to become a non-operated working interest partner with Anadarko Petroleum Corporation in the development of its acreage in the Eaglebine play.
Houston partners Anthony Speier and David Castro of Kirkland & Ellis advised KKR in the deal. Speir and Castro have previously represented KKR in the formation of multiple drilling partnerships to develop Eagle Ford Shale assets, according to their firm bios.
The Woodlands-based Anadarko turned to Jim Rice, an energy M&A partner in Sidley Austin’s Houston office to lead its end of the deal. Other attorneys on the Sidley team included M&A associates Julie Gremillion and Katy Lukaszewski, tax partner Tim Devetski and tax associate Lindsay Heyen. All are based in the Houston office.
Anadarko’s associate general counsel, Randle Jones, and senior counsel Mark Floyd played a role in the transaction as well.
Through long-term, full field development, KKR expects to participate in more than 500 future horizontal drilling wells with Anadarko. KKR’s investment marks its first with Anadarko and its first in the Eaglebine formation.
The Eaglebine is an extension of the South Texas Eagle Ford Shale into East Texas.
KKR manages $8.7 billion in energy and infrastructure related assets.
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