© 2016 The Texas Lawbook.
By Mark Curriden
(Aug. 23) – Kimmeridge Energy Management, a New York-based private equity asset management firm, turned to Houston lawyers with Sidley Austin in the sale of two privately held businesses to an independent oil exploration and production company headquartered in Denver.
PDC Energy hired the Denver law firm Davis Graham & Stubbs to lead its acquisition efforts.
Lawyers in the Houston office of Kirkland & Ellis represent Evercore, which was the financial adviser for Kimmeridge’s two companies. J.P. Morgan served as the financial adviser to PDC Energy.
Under the terms of the deal, PDC Energy is paying $915 million in cash and $590 million in privately placed stocks to acquire a 93 percent interest in 57,000 acres in the Core Delaware Basin, which is in Reeves and Culberson counties in West Texas.
The Sidley team is being led by the firm’s co-leader of its energy practice, Irving Rotter, who offices in Houston and New York. Other Sidley lawyers involved in the transaction are Houston partners Jim Rice and Anna Ha, and Houston associate Katy Lukaszewski.
Kirkland corporate partner John Pitts and associate Rahul Vashi advised Evercore. Both are based in Kirkland’s Houston office.
The transaction is expected to close in the fourth quarter of 2016.
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