Desert Royalty’s Combination With Kimmeridge Minerals

Kirkland & Ellis advised Desert Royalty Company, LLC in a transaction with Kimmeridge Energy Management Company, LLC to combine their respective Delaware Basin oil and gas royalty assets. Sidley Austin advised Kimmeridge Energy Management Company on the deal.

The combined assets will be owned by Desert Peak Minerals, creating the largest pure-play mineral and royalty company in the Delaware Basin by net royalty acres. Consummation of the combination transaction is subject to certain conditions agreed upon by the parties.

Sidley Austin LLP acted as legal advisor to Kimmeridge Energy Management Company, LLC. Tudor, Pickering, Holt & Co. acted as exclusive financial advisor to Desert Royalty Company, and Kirkland & Ellis LLP acted as legal advisor to Desert Royalty Company.

The Kirkland team was led by transactional partners Adam Larson (Picture) and Chris Heasley and associates Ahmed Sidik, Adam Whitehouse, Isaac Bate and Daniel Cadis; and tax partner David Wheat and associate Joe Tobias.

The Sidley Austin team was led by energy partner Jim Rice (Houston), project finance and infrastructure partner Irv Rotter (Houston/New York) and energy associate Katy Lukaszewski (Houston). The team also included energy partner George Vlahakos and associates John Brannan and Kayleigh McNelis (all Houston).

Involved fees earner: Isaac Bate – Kirkland & Ellis; Daniel Cadis – Kirkland & Ellis; Chris Heasley – Kirkland & Ellis; Adam Larson – Kirkland & Ellis; Jim Rice – Kirkland & Ellis; Ahmed Sidik – Kirkland & Ellis; Joe Tobias – Kirkland & Ellis; David Wheat – Kirkland & Ellis; Adam Whitehouse – Kirkland & Ellis; John Brannan III – Sidley Austin LLP; Katy Lukaszewski – Sidley Austin LLP; Kayleigh McNelis – Sidley Austin LLP; Irving Rotter – Sidley Austin LLP; George Vlahakos – Sidley Austin LLP;

Law Firms: Kirkland & Ellis; Sidley Austin LLP;

Clients: Desert Royalty Company; Kimmeridge Energy;

Author: Ambrogio Visconti