Kirkland & Ellis, Latham & Watkins, Paul Hastings and Vinson & Elkins (V&E) advised on Diversified Energy Company (DEC) and Carlyle’s US$1.175 billion acquisition of Anadarko Basin assets from Camino Natural Resources (CNR).
Diversified Energy Company in partnership with Carlyle’s Global Credit platform, has entered into a purchase agreement to acquire a bolt-on portfolio of certain oil and natural gas properties and related assets located within the Anadarko Basin of Oklahoma from Camino Natural Resources for approximately US$1.175 billion, subject to customary purchase price adjustments.
The acquisition is expected to provide Diversified with an additional 100 undeveloped inventory locations in an active development area, increasing its Oklahoma inventory to more than 450 locations on a pro forma basis. Camino will retain ownership of the Chickasha development area.
Kirkland & Ellis advised Diversified Energy Company on the acquisition.
The team included real asset transactions lawyers Jonathan Strom, Chad Smith, Rizwan Popatia, Rachel Miller and Michael Wells; corporate lawyers John Kaercher and Alexandra David; securitization lawyers Michael Urschel, Tad Bardenwerper and Wilson Carneiro; debt finance lawyers Lucas Spivey, James Bedotto and Katie Schneller; tax lawyers David Wheat, Joe Tobias and Brooke Schafer; and environmental transactions lawyers Paul Tanaka, James Dolphin and Courtney Tibbetts.
Latham & Watkins represented Carlyle in the transaction.
The team was led by Global Chair of Capital Markets and Hybrid Capital Practices Stelios Saffos, Global Co-Chair of Hybrid Capital Practice Peter Sluka, and Partners Chris Heasley and Cory Tull, with support from Associate Nate Guerra.
Advice was also provided on finance matters by Partner Jim Fogarty; and on antitrust matters by Partners Ian Conner and Peter Todaro, and Senior Manager Control Attorney Matthew Piehl.
Paul Hastings also served as legal advisor to Carlyle in connection with the acquisition.
Vinson & Elkins served as legal advisor to Camino Natural Resources on the transaction.
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