Kalnin Ventures’ $105 Million Sixth Marcellus Shale Acquisition

Willkie client Kalnin Ventures LLC (“Kalnin”), through its BKV Oil & Gas Capital Partners, L.P. fund (the “Fund”), announced that it had entered into a purchase and sale agreement with respect to its sixth acquisition of upstream oil and gas assets located in the northeast Marcellus shale play of Pennsylvania.

The transaction was valued at an aggregate price of $105 million, with potential additional payments to the seller of up to $7.5 million over the next two years depending on natural gas prices. The transaction is anticipated to close in the fourth quarter of 2017 (subject to customary closing conditions). With its sixth transaction in just over two years, Kalnin has invested $522 million through the Fund in the Marcellus Shale and is poised to fully invest its first fund as it continues to expand and diversify its strategy of acquiring, managing and monetizing portfolios. Willkie has represented Kalnin in all six transactions.

Kalnin Ventures LLC operates as an energy investment company. The Company seeks to invest in upstream oil and gas opportunities in North America.

The asset acquisition was handed by partners Michael De Voe Piazza (Picture), Cody Carper and Robert Jacobson, counsel Scott Arenare and associates David Aaronson, Lynn Abell, Yaniv Maman and Cody Dreibelbis.

 

Involved fees earner: Michael De Voe Piazza – Willkie Farr & Gallagher; Cody Carper – Willkie Farr & Gallagher; David Aaronson – Willkie Farr & Gallagher; Lynn Abell – Willkie Farr & Gallagher; Cody Dreibelbis – Willkie Farr & Gallagher; Robert Jacobson – Willkie Farr & Gallagher; Yaniv Maman – Willkie Farr & Gallagher; Scott Arenare – Willkie Farr & Gallagher;

Law Firms: Willkie Farr & Gallagher;

Clients: Kalnin Ventures LLC;

 

Avatar

Author: Ambrogio Visconti