Brigham Minerals’ Acquisition of Oil and Gas Assets From Echo Energy

Kirkland & Ellis counseled Avenue Capital and Echo Energy on the deal.

Avenue Capital, a global investment firm focused on distressed securities and private equity, and Echo Energy, an Oklahoma City-based independent oil and gas company, announced their sale of oil and gas mineral interests to Brigham Minerals, Inc., an Austin-based, publicly traded oil and gas company (NYSE: MNRL), for a combination of cash and shares in MNRL. The transaction is expected to close in Q2 2022.

The sale involves approximately 1,800 net royalty acres in Texas’s Midland Basin largely operated by Pioneer Natural Resources and Endeavor Energy Resources, and represents less than 3% of Echo’s mineral portfolio. 

The Kirkland team was led by corporate partners John Kaercher and Chris Heasley and associates Fraser Wayne and James Murphy; and tax partners David Wheat and Joe Tobias, with support from capital markets partner Matt Pacey.

Involved fees earner: Christopher Heasley – Kirkland & Ellis; John Kaercher – Kirkland & Ellis; Matthew Pacey – Kirkland & Ellis; Joe Tobias – Kirkland & Ellis; Fraser Wayne – Kirkland & Ellis; David Wheat – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Avenue Capital; Echo Energy plc;