Kirkland & Ellis announced on May 6 that it advised Diversified Energy Company on an agreement to acquire a portfolio of oil and natural gas properties, along with related assets in the Anadarko Basin of Oklahoma, from Camino Natural Resources for $1.175 billion before customary purchase price adjustments.
The transaction is significant as it adds approximately 100 undeveloped inventory locations to Diversified Energy’s portfolio in an active development area. This move is expected to enhance the company’s presence and operations within the region.
According to Kirkland & Ellis, its team worked closely with Ben Sullivan, Chief Legal Officer of Diversified Energy, and Jamie Adkins, Deputy General Counsel, during the execution of this transaction. The legal team included real asset transactions lawyers Jonathan Strom, Chad Smith and Rizwan Popatia; 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; as well as environmental transactions lawyers Paul Tanaka, James Dolphin and Courtney Tibbetts.
Diversified Energy has released a press statement regarding this acquisition. The deal underscores ongoing activity in Oklahoma’s energy sector as companies seek opportunities for growth through strategic acquisitions.
