Kimbell Completes $231M Purchase of Mineral Assets with White & Case Counsel
Deal News | Jan 07, 2025 | White & Case
Global law firm White & Case LLP is advising Kimbell Royalty Partners, LP in a substantial acquisition of mineral and royalty interests valued at approximately US$231 million. The acquisition involves a private seller's assets in the Midland Basin, Texas, and includes the option for Kimbell to finance the purchase using either cash or a combination of cash and stock units. The effective date for the transaction is projected to be in October 2024, with the final completion anticipated in early 2025. The acquired assets are expected to enhance Kimbell's position significantly, contributing an additional 1,842 barrels of oil equivalent production daily, adding to their substantial acreage across multiple states. White & Case's legal team, led by partners Jason Rocha and Charlie Ofner, is providing comprehensive advisory across corporate, tax, and antitrust domains.
Sectors
- Oil and Gas
- Legal Services
Geography
- United States – The transaction involves assets in Texas, and White & Case's advisory team is primarily based in the U.S.
- Texas – The mineral and royalty assets being acquired are located in the Midland Basin, Texas.
Industry
- Oil and Gas – The acquisition involves mineral and royalty assets related to oil and gas production in Texas's Midland Basin.
- Legal Services – White & Case is providing legal advisory services for the acquisition transaction.
Financials
- $231 million – The total value of the acquisition transaction.
- $207 million – The cash portion of the potential payment mix for the acquisition.
- $24 million – The value of approximately 1.4 million common units of Kimbell Royalty Partners, LP in the potential payment mix.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kimbell Royalty Partners, LP | Buyer | Company | A leading owner of oil and gas mineral and royalty interests across the United States. |
| White & Case LLP | Legal Advisor | Company | A global law firm providing advisory services for the acquisition. |
| Private Seller | Seller | Company | The unnamed entity selling mineral and royalty assets to Kimbell. |
| Jason Rocha | Lead Partner | Person | Partner at White & Case, leading the advisory team for the transaction. |
| Charlie Ofner | Lead Partner | Person | Partner at White & Case, leading the advisory team for the transaction. |